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)


Today last price 1.0546
Today Daily Change 40
Today Daily Change % -0.26
Today daily open 1.0573
Daily SMA20 1.0711
Daily SMA50 1.0859
Daily SMA100 1.0869
Daily SMA200 1.083
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:

Euro Remains Under Pressure And Revisits 1.0550, New Six-month Lows
Natural Gas Futures: Further Consolidation In The Pipeline
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 ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.