Home Markets EUR/USD Price Analysis: Falling to familiar levels above the 20-DMA

EUR/USD Price Analysis: Falling to familiar levels above the 20-DMA

EUR/USD Price Analysis: Falling to familiar levels above the 20-DMA
  • EUR/USD breaks two consecutive weeks of gains and falls 0.42%.
  • The common currency is trendless, within the range of 1.0096-1.0278.
  • From a daily chart point of view, EUR/USD could test the low of 1.0096 before retesting recent years’ lows below parity.

The EUR/USD slumps late at the close on Wall Street, down 0.62%, hit by an upbeat US jobs report that bolstered the USD, while raising the odds of a new “jumbo” rate hike by the US. the Fed at the September meeting. For its part, the EUR/USD is trading at 1.0180 at the time of writing this article.

EUR/USD Price Analysis: Technical Outlook

The daily chart of the shared currency shows the pair consolidating in the 1.0096-1.0278 zone. Although the US Non-Farm Payrolls report has supported the dollar, EUR/USD has held firm and rebounded from the daily low of 1.0141, retracing the 20-day EMA. However, the major currency is under selling pressure as the RSI changed gears, heading lower, and crossed below its 7-day SMA, opening the door for further declines.

Therefore, the first support for the EUR/USD would be the 20-day EMA at 1.0158. Breaking below will expose the bottom of the aforementioned trading range at 1.0096, which, once breached, paves the way for a refresh of recent years’ lows below parity.

On the other hand, the first resistance of the EUR/USD is 1.0200. If it exceeds it, the euro will go to the 2 daily highs of August, at 1.0293, before looking for the figure of 1.0300.

EUR/USD daily chart

EUR/USD Key Technical Levels


Last Price Today 1.0163
Today’s Daily Change -0.0083
Today’s Daily Change % -0.81
Today’s Daily Opening 1.0246
20 Daily SMA 1.0161
50 Daily SMA 1.0387
100 Daily SMA 1.0571
200 Daily SMA 1.0936
Previous Daily High 1.0254
Previous Daily Minimum 1.0154
Previous Maximum Weekly 1.0258
Previous Weekly Minimum 1.0097
Monthly Prior Maximum 1.0486
Previous Monthly Minimum 0.9952
Daily Fibonacci 38.2% 1.0216
Daily Fibonacci 61.8% 1.0192
Daily Pivot Point S1 1.0182
Daily Pivot Point S2 1.0119
Daily Pivot Point S3 1.0083
Daily Pivot Point R1 1.0281
Daily Pivot Point R2 1.0317
Daily Pivot Point R3 1.0381

Source: Fx Street



Please enter your comment!
Please enter your name here

Exit mobile version