EUR/USD Price Analysis: Rising bets for a move to 1.1700
by Pablo Piovano · FXStreet- EUR/USD adds to Friday’s losses and drops to the low-1.17s.
- Further weakness now targets the 1.17 neighbourhood near-term.
EUR/USD closed Friday’s session within the negative territory as the move to fresh +2-year tops beyond 1.19 the figure lacked follow-through.
The pair looks offered as it comes from overbought levels and the door is now open for a deeper retracement to, initially, the Fibo level (of the 2017-2018 rally) at 1.1709. Further south, the next support of relevance aligns near 1.15 (January peaks).
Looking at the broader picture, as long as the 200-day SMA, today at 1.1089, holds the downside, further gains in EUR/USD remain well on the table.
EUR/USD daily chart
EUR/USD
| Overview | |
|---|---|
| Today last price | 1.172 |
| Today Daily Change | 82 |
| Today Daily Change % | -0.49 |
| Today daily open | 1.1778 |
| Trends | |
|---|---|
| Daily SMA20 | 1.1507 |
| Daily SMA50 | 1.1332 |
| Daily SMA100 | 1.1109 |
| Daily SMA200 | 1.1089 |
| Levels | |
|---|---|
| Previous Daily High | 1.1909 |
| Previous Daily Low | 1.1762 |
| Previous Weekly High | 1.1909 |
| Previous Weekly Low | 1.1642 |
| Previous Monthly High | 1.1909 |
| Previous Monthly Low | 1.1185 |
| Daily Fibonacci 38.2% | 1.1818 |
| Daily Fibonacci 61.8% | 1.1853 |
| Daily Pivot Point S1 | 1.1723 |
| Daily Pivot Point S2 | 1.1669 |
| Daily Pivot Point S3 | 1.1576 |
| Daily Pivot Point R1 | 1.187 |
| Daily Pivot Point R2 | 1.1963 |
| Daily Pivot Point R3 | 1.2017 |