EUR/USD Price Analysis: The 1.0910 Zone Holds The Downside For Now
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- EUR/USD reverses part of the weekly leg lower on Wednesday.
- Initial support emerges at the monthly low of 1.0912.
EUR/USD regains some composure and bounces to the 1.0990 region on Wednesday.
In case losses accelerate, spot should face interim contention at the 55-day and 100-day SMAs at 1.0930 and 1.0924, respectively, ahead of the so far August low at 1.0912 (August 3). In case the latter is breached on a sustainable way, the pair could embark on a move to the July low of 1.0833 (July 6).
In the meantime, while below the weekly high of 1.1149 (July 27), the pair risks further retracements for the time being.
Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0760.
EUR/USD daily chart
(Click on image to enlarge)
EUR/USD
| OVERVIEW | |
|---|---|
| Today last price | 1.0984 |
| Today Daily Change | 39 |
| Today Daily Change % | 0.26 |
| Today daily open | 1.0956 |
| TRENDS | |
|---|---|
| Daily SMA20 | 1.1077 |
| Daily SMA50 | 1.0947 |
| Daily SMA100 | 1.0925 |
| Daily SMA200 | 1.0756 |
| LEVELS | |
|---|---|
| Previous Daily High | 1.1011 |
| Previous Daily Low | 1.0929 |
| Previous Weekly High | 1.1046 |
| Previous Weekly Low | 1.0912 |
| Previous Monthly High | 1.1276 |
| Previous Monthly Low | 1.0834 |
| Daily Fibonacci 38.2% | 1.0961 |
| Daily Fibonacci 61.8% | 1.098 |
| Daily Pivot Point S1 | 1.092 |
| Daily Pivot Point S2 | 1.0884 |
| Daily Pivot Point S3 | 1.0838 |
| Daily Pivot Point R1 | 1.1002 |
| Daily Pivot Point R2 | 1.1048 |
| Daily Pivot Point R3 | 1.1084 |
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