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EUR/USD Price Analysis: Downtrend moderates above 1.0155

  • EUR/USD reverses three consecutive daily gains on Monday.
  • There is initial resistance at the 7-month line near 1.0160.

The EUR/USD It suffers some selling pressure and deflates below the parity zone at the beginning of the week.

The pair appears to have embarked on a consolidation range ahead of Wednesday’s key FOMC event. Immediately to the upside is the interim 55-day SMA at 1.0101 before the key 7-month resistance line near 1.0160 today. A move beyond the latter is needed to mitigate downside pressure and allow spot to face September high at 1.0197 (Sep 12) before further gains possible.

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 1.0722.

EUR/USD daily chart

Technical levels


Last Price Today 0.9987
Today’s Daily Change -0.0030
Today’s Daily Change % -0.30
Today’s Daily Opening 1.0017
20 Daily SMA 0.9987
50 Daily SMA 1.0098
100 Daily SMA 1.0318
200 Daily SMA 1.0731
Previous Daily High 1.0037
Previous Daily Minimum 0.9945
Previous Maximum Weekly 1.0198
Previous Weekly Minimum 0.9945
Monthly Prior Maximum 1.0369
Previous Monthly Minimum 0.9901
Daily Fibonacci 38.2% 1.0002
Daily Fibonacci 61.8% 0.998
Daily Pivot Point S1 0.9963
Daily Pivot Point S2 0.9908
Daily Pivot Point S3 0.9871
Daily Pivot Point R1 1.0054
Daily Pivot Point R2 1.0091
Daily Pivot Point R3 1.0146

Source: Fx Street

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