EUR/USD Price Analysis: Still scope for extra losses

EUR/USD manages to rebound past the 1.0900 hurdle.
A drop below 1.0844 exposes extra retracements near term.

Pablo Piovano FXStreet

EUR/USD reverses six consecutive daily pullbacks and regains the 1.0900 hurdle and above on Monday.

If the pair resumes the downside it is expected to revisit the August low of 1.0844 (August 18) prior to the July low of 1.0833 (July 6). The loss of this region leaves the pair vulnerable to a probable test of the critical 200-day SMA at 1.0792 in the short-term horizon.

In the meantime, the pair’s positive outlook remains unchanged while above the 200-day SMA.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0893
Today Daily Change	48
Today Daily Change %	0.19
Today daily open	1.0872

Trends
Daily SMA20	1.0969
Daily SMA50	1.0978
Daily SMA100	1.0931
Daily SMA200	1.0791

Levels
Previous Daily High	1.0894
Previous Daily Low	1.0845
Previous Weekly High	1.096
Previous Weekly Low	1.0845
Previous Monthly High	1.1276
Previous Monthly Low	1.0834
Daily Fibonacci 38.2%	1.0864
Daily Fibonacci 61.8%	1.0875
Daily Pivot Point S1	1.0846
Daily Pivot Point S2	1.0821
Daily Pivot Point S3	1.0798
Daily Pivot Point R1	1.0895
Daily Pivot Point R2	1.0919
Daily Pivot Point R3	1.0944

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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