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EUR/USD Price Analysis: Further Weakness Expected

  • EUR/USD extends the fall below the parity zone.
  • A deeper pullback could see the 2022 lows at 0.9950 retested.

The EUR/USD It breaks below the parity zone and marks new 6-week lows at the start of the week.

At the moment, it seems that there will be more losses. Conversely, the pair could face the 2022 low at 0.9952 (July 14) on a convincing breakout of the parity region.

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 1.0852.

EUR/USD daily chart

Technical levels

EUR/USD

Panorama
Last Price Today 0.9976
Today’s Daily Change -0.0062
Today’s Daily Change % -0.62
Today’s Daily Opening 1.0038
Trends
20 Daily SMA 1.0195
50 Daily SMA 1.0276
100 Daily SMA 1.0478
200 Daily SMA 1.0861
levels
Previous Daily High 1.0096
Previous Daily Minimum 1.0032
Previous Maximum Weekly 1.0268
Previous Weekly Minimum 1.0032
Monthly Prior Maximum 1.0486
Previous Monthly Minimum 0.9952
Daily Fibonacci 38.2% 1.0056
Daily Fibonacci 61.8% 1.0071
Daily Pivot Point S1 1.0015
Daily Pivot Point S2 0.9992
Daily Pivot Point S3 0.9952
Daily Pivot Point R1 1.0078
Daily Pivot Point R2 1.0119
Daily Pivot Point R3 1.0142

Source: Fx Street

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