Markets

EUR/USD Price Analysis: Further weakness could drop back to 1.0440

January 6, 2023
1:57 PM

EUR/USD continues the downtrend started on Thursday.
A deeper pullback could see the weekly low of 1.0443 revisited.

The EUR/USD accelerates its losses and falls to multi-week lows south of the key 1.0500 barrier on Friday.

If sellers push harder, the pair could extend the pullback to an initial weekly low of 1.0443 (Dec 7) before the 55-day SMA at 1.0365.

Meanwhile, the pair will continue to rise as long as it stays above the 200-day SMA at 1.0311.

EUR/USD daily chart

EUR/USD

Overview
Last price today	1.0495
Today I change daily	51
today’s daily variation	-0.24
today’s daily opening	1,052

Trends
daily SMA20	1.0611
daily SMA50	1.0396
daily SMA100	1.0144
daily SMA200	1.0316

levels
previous daily high	1.0632
previous daily low	1.0515
Previous Weekly High	1.0713
previous weekly low	1.0607
Previous Monthly High	1.0736
Previous monthly minimum	1.0393
Fibonacci daily 38.2	1,056
Fibonacci 61.8% daily	1.0587
Daily Pivot Point S1	1,048
Daily Pivot Point S2	1.0439
Daily Pivot Point S3	1.0363
Daily Pivot Point R1	1.0596
Daily Pivot Point R2	1.0672
Daily Pivot Point R3	1.0712

Source: Fx Street

Joshua

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.