EUR/USD Price Analysis: Euro suffers the worst weekly decline since November 2019

02/07/2020 22:00:20 GMT|ByFlavio Tosti

EUR/USD registers its worst weekly decline in three months.
Downside targets can be located near the 1.0912 and 1.0877 levels.

EUR/USD weekly chart

EUR/USD is trading below its main weekly simple moving averages (SMAs) suggesting a bearish bias in the long term. The euro had its worst weekly decline since November 2019.

EUR/USD daily chart

The euro is trading in a weak downtrend below the main simple moving averages (SMAs) as the spot is melting to levels not seen since October 2019. This Friday the Non-farm payrolls revealed that the US added 225K jobs vs. 160K forecast by analysts.

EUR/USD four-hour chart

EUR/USD is trading in a downward channel below its main SMAs while sellers are looking for a break below the 1.0930 support. As the spot stays under strong selling pressure, a break below the above-mentioned level is likely to lead to further declines towards the 1.0912 and 1.0877 levels, according to the Technical Confluences Indicator. Resistances are seen near 1.0964, 1.0980 and the 1.1000 figure.

Resistance: 1.0964, 1.0980, 1.1000

Support: 1.0930, 1.0912, 1.0877

Additional key levels

EUR/USD

Overview
Today last price	1.0948
Today Daily Change	-0.0031
Today Daily Change %	-0.28
Today daily open	1.0979

Trends
Daily SMA20	1.1069
Daily SMA50	1.1101
Daily SMA100	1.1071
Daily SMA200	1.1125

Levels
Previous Daily High	1.1014
Previous Daily Low	1.0965
Previous Weekly High	1.1092
Previous Weekly Low	1.0992
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.0984
Daily Fibonacci 61.8%	1.0995
Daily Pivot Point S1	1.0958
Daily Pivot Point S2	1.0937
Daily Pivot Point S3	1.0909
Daily Pivot Point R1	1.1007
Daily Pivot Point R2	1.1035
Daily Pivot Point R3	1.1056

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