EUR/USD Price Analysis: Solid support lies around 0.9900

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  • EUR/USD sees its bounce cut back and returns to levels below parity.
  • Firm containment is expected near the 0.9900 area.

The EUR/USD is under renewed strong downward pressure, falling back below the key parity zone on Thursday.

Further consolidation seems the most likely scenario in EUR/USD at the moment, still within the 1.0100-0.9900 range. The pair is expected to remain unchanged for the next few hours, or at least until the key US Non-Farm Payrolls release (Friday).

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Breaking above the weekly high at 1.0090 (Aug 26) could spark further rallies to 1.0202 (Aug 17 high) ahead of the 55-day SMA today at 1.0213. Alternatively, the 0.9900 level is expected to maintain bearish momentum for now.

Longer term, the bearish view on the pair is expected to prevail as long as it trades below the 200-day SMA at 1.0801.

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EUR/USD daily chart

Technical levels


Last Price Today 0.9992
Today’s Daily Change -0.0061
Today’s Daily Change % -0.61
Today’s Daily Opening 1.0053
20 Daily SMA 1.0111
50 Daily SMA 1.0195
100 Daily SMA 1.0405
200 Daily SMA 1.0809
Previous Daily High 1.0079
Previous Daily Minimum 0.9971
Previous Maximum Weekly 1,009
Previous Weekly Minimum 0.9901
Monthly Prior Maximum 1.0369
Previous Monthly Minimum 0.9901
Daily Fibonacci 38.2% 1.0038
Daily Fibonacci 61.8% 1.0013
Daily Pivot Point S1 0.999
Daily Pivot Point S2 0.9927
Daily Pivot Point S3 0.9882
Daily Pivot Point R1 1.0098
Daily Pivot Point R2 1.0142
Daily Pivot Point R3 1.0205

Source: Fx Street

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