EUR/USD Price Analysis: Downward Bias Could Extend To 1.0516
- EUR/USD slips back to the 1.0660 region, or multi-week lows.
- Further losses below 1.0600 exposes the March low.
EUR/USD quickly leaves behind Tuesday’s decent advance and resumes the downtrend on Wednesday.
The pair remains under heavy pressure and a breach of the May low at 1.0658 (May 31) could open the door to a test of the round level at 1.0600 prior to the March low at 1.0516 (March 15).
A deeper pullback to the 2023 low at 1.0481 (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 1.0492.
EUR/USD daily chart
(Click on image to enlarge)
EUR/USD
| OVERVIEW | |
|---|---|
| Today last price | 1.068 |
| Today Daily Change | 77 |
| Today Daily Change % | -0.50 |
| Today daily open | 1.0734 |
| TRENDS | |
|---|---|
| Daily SMA20 | 1.0859 |
| Daily SMA50 | 1.0903 |
| Daily SMA100 | 1.0816 |
| Daily SMA200 | 1.049 |
| LEVELS | |
|---|---|
| Previous Daily High | 1.0747 |
| Previous Daily Low | 1.0672 |
| Previous Weekly High | 1.0831 |
| Previous Weekly Low | 1.0702 |
| Previous Monthly High | 1.1095 |
| Previous Monthly Low | 1.0788 |
| Daily Fibonacci 38.2% | 1.0718 |
| Daily Fibonacci 61.8% | 1.0701 |
| Daily Pivot Point S1 | 1.0689 |
| Daily Pivot Point S2 | 1.0644 |
| Daily Pivot Point S3 | 1.0615 |
| Daily Pivot Point R1 | 1.0763 |
| Daily Pivot Point R2 | 1.0792 |
| Daily Pivot Point R3 | 1.0837 |
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EUR/USD Accelerates Losses Below 1.0700 Ahead Of Data
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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