EUR/USD Price Analysis: Extra losses likely below 1.1880/90

EUR/USD extends the weekly leg lower to the 1.1830 area.
The 1.1780 zone remains a magnet for bears.

Pablo Piovano FXStreet

EUR/USD sparked a corrective downside following another rejection from the 1.1880/90 band at the beginning of the week.

While the upside remains capped by this area, further pullbacks are likely. Against this, the next stop on the downside comes in at the so far monthly lows around 1.1780 (July 7). This area of contention is reinforced by the 2020-2021 support line.

Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2001.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1837
Today Daily Change	40
Today Daily Change %	-0.19
Today daily open	1.186

Trends
Daily SMA20	1.19
Daily SMA50	1.2052
Daily SMA100	1.2004
Daily SMA200	1.2006

Levels
Previous Daily High	1.188
Previous Daily Low	1.1836
Previous Weekly High	1.1895
Previous Weekly Low	1.1782
Previous Monthly High	1.2254
Previous Monthly Low	1.1845
Daily Fibonacci 38.2%	1.1853
Daily Fibonacci 61.8%	1.1863
Daily Pivot Point S1	1.1838
Daily Pivot Point S2	1.1815
Daily Pivot Point S3	1.1794
Daily Pivot Point R1	1.1882
Daily Pivot Point R2	1.1903
Daily Pivot Point R3	1.1926

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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