EUR/USD Price Analysis: A deeper drop could expose the 1.0830 zone

  • EUR/USD retraces the initial rise to the 1.0930 zone.
  • Next, on the downside, is the August low at 1.0844.

He EUR/USD resumes bearish path after rallying to the 1.0930 area early on Tuesday.

Further losses are expected to test the August low at 1.0844 (August 18) before the July low at 1.0833 (July 6). Furthermore, the loss of this region leaves the pair vulnerable to a probable test of the critical 200-day SMA at 1.0795 on the near-term horizon.

Meanwhile, the positive outlook for the pair remains as long as it stays above the 200-day SMA.

EUR/USD daily chart

EUR/USD

Overview
Last price today 1.0858
today’s daily change 74
today’s daily variation -0.35
today’s daily opening 1.0896
Trends
daily SMA20 1,096
daily SMA50 1,098
daily SMA100 1.0931
daily SMA200 1.0794
levels
previous daily high 1.0914
previous daily low 1.0867
Previous Weekly High 1,096
previous weekly low 1.0845
Previous Monthly High 1.1276
Previous monthly minimum 1.0834
Fibonacci daily 38.2 1.0896
Fibonacci 61.8% daily 1.0885
Daily Pivot Point S1 1,087
Daily Pivot Point S2 1.0845
Daily Pivot Point S3 1.0824
Daily Pivot Point R1 1.0917
Daily Pivot Point R2 1.0939
Daily Pivot Point R3 1.0964

Source: Fx Street

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