EUR/USD Price Analysis: Decline Could Pick Up Pace Below 1.0770

  • EUR/USD adds to the ongoing bearish move and drops below 1.0700.
  • Extra decline appears in the pipeline below the 1.0770 region.

EUR/USD remains well on the defensive and drops to new lows in the sub-1.0700 zone on Tuesday.

The pair has recently broken below the 3-month support line near 1.0770, and this now allows for the downtrend to gather extra impulse in the near term. Against that, the next interim support comes at the 55-day SMA at 1.0662, while the breach of this region could open the door to a deeper retracement to the 2023 low at 1.0481 (January 6).

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0319.

EUR/USD daily chart

(Click on image to enlarge)


Today last price 1.07
Today Daily Change 55
Today Daily Change % -0.28
Today daily open 1.073
Daily SMA20 1.0841
Daily SMA50 1.0685
Daily SMA100 1.0327
Daily SMA200 1.032
Previous Daily High 1.0799
Previous Daily Low 1.071
Previous Weekly High 1.1033
Previous Weekly Low 1.0793
Previous Monthly High 1.093
Previous Monthly Low 1.0483
Daily Fibonacci 38.2% 1.0744
Daily Fibonacci 61.8% 1.0765
Daily Pivot Point S1 1.0693
Daily Pivot Point S2 1.0657
Daily Pivot Point S3 1.0604
Daily Pivot Point R1 1.0782
Daily Pivot Point R2 1.0835
Daily Pivot Point R3 1.0872

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Disclosure: Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes ...

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