EUR/USD Price Analysis: Bets on the upside for a retest of the year’s low

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  • EUR/USD remains under pressure and falls below 0.9900.
  • The 2022 low is located at 0.9863 (September 6).

EUR/USD deepens its weekly correction and breaks key support in the 0.9900 area on Wednesday.

The pair has embarked on a corrective decline and this carries the potential to extend further and revisit the 2022 low at 0.9863 (Sep 6). The loss of this area should put the December 2002 low at 0.9859 back on the radar before the October 2022 low at 0.9685.

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In the long term, the bearish view on the pair is expected to prevail as long as it trades below the 200 SMA at 1.0709.

EUR/USD day chart

EUR/USD

Panorama
Last Price Today 0.99
Today’s Daily Change -0.0071
Today’s Daily Change % -0.71
Today’s Daily Opening 0.9971
Trends
20 Daily SMA 0.9992
50 Daily SMA 1.0096
100 Daily SMA 1.0307
200 Daily SMA 1.0718
levels
Previous Daily High 1.0051
Previous Daily Minimum 0.9955
Previous Maximum Weekly 1.0198
Previous Weekly Minimum 0.9945
Monthly Prior Maximum 1.0369
Previous Monthly Minimum 0.9901
Daily Fibonacci 38.2% 0.9992
Daily Fibonacci 61.8% 1.0014
Daily Pivot Point S1 0.9934
Daily Pivot Point S2 0.9897
Daily Pivot Point S3 0.9839
Daily Pivot Point R1 1,003
Daily Pivot Point R2 1.0088
Daily Pivot Point R3 1.0125

Source: Fx Street

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