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  • The pair came under heavy selling pressure following the ECB event on Thursday, breaking below the critical support at 1.1200 the figure and recording fresh 2019 lows.
  • EUR/USD now looks increasingly vulnerable and could drop further to, initially, the lowest level seen in June 2017 at 1.1118.
  • On the broader picture, the negative view on spot is expected to remain intact while below the resistance line at 1.1447.

EUR/USD daily chart

EUR/USD

Overview:
       Today Last Price:  1.121
       Today Daily change:  298  pips
       Today Daily change %:  0.25%
       Today Daily Open:  1.1182
Trends:
       Daily SMA20:  1.1323
       Daily SMA50:  1.1382
       Daily SMA100:  1.1378
       Daily SMA200:  1.1501
Levels:
       Previous Daily High:  1.1322
       Previous Daily Low:  1.1176
       Previous Weekly High:  1.1422
       Previous Weekly Low:  1.1328
       Previous Monthly High:  1.1489
       Previous Monthly Low:  1.1234
       Daily Fibonacci 38.2%:  1.1232
       Daily Fibonacci 61.8%:  1.1266
       Daily Pivot Point S1:  1.1131
       Daily Pivot Point S2:  1.1081
       Daily Pivot Point S3:  1.0986
       Daily Pivot Point R1:  1.1277
       Daily Pivot Point R2:  1.1372
       Daily Pivot Point R3:  1.1422