EUR/USD Price Analysis: Further Retracements In Store
- EUR/USD weakens to new multi-month lows around 1.0530.
- Next on the downside emerges the March low at 1.0516.
EUR/USD keeps the selling pressure well in place for the 7th session in a row on Wednesday, printing new six-month lows around 1.0530 .
The continuation of the downward bias should leave the pair vulnerable to further losses with the immediate target at the March low of 1.0516 (Mar 8), which is the last defence ahead of an assault on the 2023 low at 1.0481 (January 6).
While below the key 200-day SMA at 1.0827, the pair is likely to face extra weakness.
EUR/USD daily chart
(Click on image to enlarge)
EUR/USD
| OVERVIEW | |
|---|---|
| Today last price | 1.0546 |
| Today Daily Change | 40 |
| Today Daily Change % | -0.26 |
| Today daily open | 1.0573 |
| TRENDS | |
|---|---|
| Daily SMA20 | 1.0711 |
| Daily SMA50 | 1.0859 |
| Daily SMA100 | 1.0869 |
| Daily SMA200 | 1.083 |
| LEVELS | |
|---|---|
| Previous Daily High | 1.0609 |
| Previous Daily Low | 1.0562 |
| Previous Weekly High | 1.0737 |
| Previous Weekly Low | 1.0615 |
| Previous Monthly High | 1.1065 |
| Previous Monthly Low | 1.0766 |
| Daily Fibonacci 38.2% | 1.058 |
| Daily Fibonacci 61.8% | 1.0591 |
| Daily Pivot Point S1 | 1.0554 |
| Daily Pivot Point S2 | 1.0534 |
| Daily Pivot Point S3 | 1.0507 |
| Daily Pivot Point R1 | 1.0601 |
| Daily Pivot Point R2 | 1.0628 |
| Daily Pivot Point R3 | 1.0648 |
More By This Author:
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EUR/USD Price Analysis: A Drop To 1.0516 Looms Closer
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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