- EUR/USD accelerates losses and falls to new cycle lows.
- Below the low for the year is the December 2002 low at 0.9859.
The EUR/USD resumes the leg down and breaks below the 0.9900 level to hit a fresh two-decade low in the 0.9880/75 area on Monday.
A continuation of the downtrend cannot be ruled out yet as the daily RSI around 36 still allows for some weakness before reaching oversold territory.
Conversely, the next support to watch is found at 0.9859 (Dec 2002 low), followed by 0.9685 (Oct 2002 low).
In the long term, the bearish view on the pair is expected to prevail as long as it trades below the 200-day SMA at 1.0787.
EUR/USD daily chart
|Last Price Today||0.9927|
|Today’s Daily Change||-0.0026|
|Today’s Daily Change %||-0.26|
|Today’s Daily Opening||0.9953|
|20 Daily SMA||1.0086|
|50 Daily SMA||1.0172|
|100 Daily SMA||1.0388|
|200 Daily SMA||1.0796|
|Previous Daily High||1.0034|
|Previous Daily Minimum||0.9943|
|Previous Maximum Weekly||1.0079|
|Previous Weekly Minimum||0.9911|
|Monthly Prior Maximum||1.0369|
|Previous Monthly Minimum||0.9901|
|Daily Fibonacci 38.2%||0.9999|
|Daily Fibonacci 61.8%||0.9978|
|Daily Pivot Point S1||0.9919|
|Daily Pivot Point S2||0.9886|
|Daily Pivot Point S3||0.9828|
|Daily Pivot Point R1||1,001|
|Daily Pivot Point R2||1.0067|
|Daily Pivot Point R3||1.0101|
Source: Fx Street
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