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EUR/USD Price Analysis: Additional losses remain favorable

  • 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

Technical levels


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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