- EUR/USD adds to weekly leg down around 1.0500.
- Additional losses seem likely in the short term horizon.
The EUR/USD adds to recent weakness and revisits the 1.0480 area on Wednesday, where initial support appeared.
The inability to break out of the 4-month line near 1.0650 should keep the bearish pressure around the pair. Conversely, further losses are expected to follow, although a revisit to June’s low at 1.0358 seems out of the question for now.
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 1.1119.
EUR/USD daily chart
|Last Price Today||1.0491|
|Today’s Daily Change||-0.0028|
|Today’s Daily Change %||-0.27|
|Today’s Daily Opening||1.0519|
|20 Daily SMA||1.0574|
|50 Daily SMA||1.0595|
|100 Daily SMA||1,083|
|200 Daily SMA||1.1127|
|Previous Daily High||1.0606|
|Previous Daily Minimum||1.0503|
|Previous Maximum Weekly||1.0606|
|Previous Weekly Minimum||1.0469|
|Monthly Prior Maximum||1.0787|
|Previous Monthly Minimum||1,035|
|Daily Fibonacci 38.2%||1.0543|
|Daily Fibonacci 61.8%||1.0567|
|Daily Pivot Point S1||1,048|
|Daily Pivot Point S2||1,044|
|Daily Pivot Point S3||1.0377|
|Daily Pivot Point R1||1.0583|
|Daily Pivot Point R2||1.0646|
|Daily Pivot Point R3||1.0685|
Source: Fx Street