- EUR/USD partially moderates Wednesday’s strong rally to 0.9750.
- If the bears take the initiative again, the pair could revisit the low of the year.
The upward attempt EUR/USD It failed again at the weekly highs around 0.9750, triggering a sharp sell-off below.
The odds of further European currency weakness remain so far, with the immediate target at the 2022 low at 0.9535 (Sep 28). A deeper drop could challenge the round level at 0.9500 before the weekly low at 0.9411 (17 Jun 2002).
In the longer term, the bearish view on the pair should remain unchanged as long as it is below the 200-day SMA at 1.0660.
EUR/USD daily chart
|last price today||0.9688|
|daily change today||111|
|Today’s daily change %||-0.48|
|Daily opening today||0.9735|
|Previous daily high||0.9751|
|Previous Daily Low||0.9536|
|Previous Weekly High||1.0051|
|Previous Weekly Low||0.9668|
|Previous Monthly High||1.0369|
|Previous Monthly Low||0.9901|
|Daily Fibonacci of 38.2%||0.9669|
|Daily Fibonacci of 61.8%||0.9618|
|Daily Pivot Point S1||0.9596|
|Daily Pivot Point S2||0.9458|
|Daily Pivot Point S3||0.9381|
|Daily Pivot Point R1||0.9812|
|Daily Pivot Point R2||0.9889|
|Daily Pivot Point R3||1.0027|
Source: Fx Street