EUR/USD Price Analysis: The decline continues in the market

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  • EUR/USD resumes declines and flirts with break of 1.0400.
  • The June low at 1.0358 should offer some decent containment initially.

The EUR/USD keeps the bearish bias unchanged and continues to navigate the area of ​​2-week lows on Friday.

The inability to break above the 4-month line near 1.0640 should keep the bearish pressure around the pair for now. On the contrary, there is a small support at the weekly low of 1.0382 (June 30), before the June low at 1.0358 (June 15). A deeper pullback should put a visit to the 2022 low at 1.0348 (13 May) back on the radar.

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In the long term, the bearish view of the pair is expected to prevail as long as it trades below the 200-day SMA at 1.1106.

EUR/USD daily chart

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Technical levels

EUR/USD

Panorama
Last Price Today 1.0401
Today’s Daily Change -0.0083
Today’s Daily Change % -0.79
Today’s Daily Opening 1.0484
Trends
20 Daily SMA 1,055
50 Daily SMA 1.0579
100 Daily SMA 1.0811
200 Daily SMA 1.1114
levels
Previous Daily High 1.0489
Previous Daily Minimum 1.0383
Previous Maximum Weekly 1.0606
Previous Weekly Minimum 1.0469
Monthly Prior Maximum 1.0774
Previous Monthly Minimum 1.0359
Daily Fibonacci 38.2% 1.0448
Daily Fibonacci 61.8% 1.0423
Daily Pivot Point S1 1.0415
Daily Pivot Point S2 1.0345
Daily Pivot Point S3 1.0308
Daily Pivot Point R1 1.0521
Daily Pivot Point R2 1.0558
Daily Pivot Point R3 1.0627

Source: Fx Street

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