EUR/USD Price Analysis: A Drop To The 1.0630 Region Is Not Ruled Out
- EUR/USD resumes the downside following Friday’s tops.
- A deeper correction could revisit the 1.0630 zone.
EUR/USD adds to Friday’s marked pullback and drops to the 1.0680 area on Monday.
The pair remains well under pressure and the continuation of the selling bias should put a potential test of the May low at 1.0635 (May 31) back on the radar in the short-term horizon. If spot clears the 1.0600 support it could then open the door to a deeper decline to the March low at 1.0516 (March 15).
A deeper pullback to the 2023 low at 1.0496 (January 6) would likely need a sharp deterioration of the outlook, which appears not favoured for the time being.
Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0503.
EUR/USD daily chart
(Click on image to enlarge)
EUR/USD
| OVERVIEW | |
|---|---|
| Today last price | 1.0684 |
| Today Daily Change | 31 |
| Today Daily Change % | -0.22 |
| Today daily open | 1.0708 |
| TRENDS | |
|---|---|
| Daily SMA20 | 1.0813 |
| Daily SMA50 | 1.0897 |
| Daily SMA100 | 1.0813 |
| Daily SMA200 | 1.0502 |
| LEVELS | |
|---|---|
| Previous Daily High | 1.0779 |
| Previous Daily Low | 1.0705 |
| Previous Weekly High | 1.0779 |
| Previous Weekly Low | 1.0635 |
| Previous Monthly High | 1.1092 |
| Previous Monthly Low | 1.0635 |
| Daily Fibonacci 38.2% | 1.0733 |
| Daily Fibonacci 61.8% | 1.0751 |
| Daily Pivot Point S1 | 1.0682 |
| Daily Pivot Point S2 | 1.0657 |
| Daily Pivot Point S3 | 1.0609 |
| Daily Pivot Point R1 | 1.0756 |
| Daily Pivot Point R2 | 1.0804 |
| Daily Pivot Point R3 | 1.083 |
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