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EUR/USD Price Analysis: Next target emerges at 1.0180

  • EUR/USD recovers some of the ground lost in Tuesday’s sharp decline.
  • A further bounce should target the monthly high line near 1,180.

EUR/USD regains some poise and manages to trim some of the weekly decline after Tuesday’s drop on the release of US retail inflation figures.

If the recovery picks up, the intermediate hurdle lies at the 55-day simple moving average (SMA) at 1.0125 ahead of the key seven-month resistance line near 1.0180 today. A move beyond the latter is needed to mitigate downside pressure while allowing a visit to the intermediate 100-Day SMA at 1.0325 ahead of the more relevant August high at 1.0368 (10 Aug).

In the longer term, the bearish view on the pair is expected to prevail as long as it trades below the 200-day SMA at 1-1.0741.

EUR/USD day chart

EUR/USD

Panorama
Last Price Today 0.999
Today’s Daily Change 0.0016
Today’s Daily Change % 0.16
Today’s Daily Opening 0.9974
Trends
20 Daily SMA 1.0003
50 Daily SMA 1.0108
100 Daily SMA 1.0334
200 Daily SMA 1,075
levels
Previous Daily High 1.0187
Previous Daily Minimum 0.9967
Previous Maximum Weekly 1.0114
Previous Weekly Minimum 0.9864
Monthly Prior Maximum 1.0369
Previous Monthly Minimum 0.9901
Daily Fibonacci 38.2% 1.0051
Daily Fibonacci 61.8% 1.0103
Daily Pivot Point S1 0.9898
Daily Pivot Point S2 0.9822
Daily Pivot Point S3 0.9677
Daily Pivot Point R1 1.0118
Daily Pivot Point R2 1.0263
Daily Pivot Point R3 1.0339

Source: Fx Street

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