EURUSD Price Analysis: The fall is going to extend

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  • EURUSD corrects to moderate lower after recent strength.
  • Next support lies at the 100-day SMA near 1.0020.

The EURUSD comes under pressure after two consecutive daily rallies and pulls back to the 1.0300 level on Thursday.

The pair’s inability to close above the 1.0400 level coupled with the proximity of overbought territory seems to have triggered some correction in the pair. Against this, further losses have the potential to drag spot down to the 100-day SMA today at 1.0024. The loss of this zone could put a test of the parity zone back on the radar.

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For now, as long as it is below the 200-day SMA, the outlook for the pair remains bearish.

EURUSD daily chart

EUR/USD

Overview
Last price today 1.0336
today’s daily change 91
Today’s daily change in % -0.60
today’s daily opening 1.0398
Trends
daily SMA20 1.0027
daily SMA50 0.9918
daily SMA100 1.0028
daily SMA200 1.0424
levels
previous daily high 1.0439
previous daily low 1.0331
Previous Weekly High 1.0364
previous weekly low 0.9903
Previous Monthly High 1.0094
Previous monthly minimum 0.9632
Daily Fibonacci of 38.2% 1.0398
Daily Fibonacci of 61.8% 1.0372
Daily Pivot Point S1 1,034
Daily Pivot Point S2 1.0281
Daily Pivot Point S3 1.0232
Daily Pivot Point R1 1.0447
Daily Pivot Point R2 1.0497
Daily Pivot Point R3 1.0555

Source: Fx Street

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