EUR/USD Asia Price Forecast: Euro records largest daily decline since June 2018

EUR/USD is consolidating above the 1.0970 support level on broad-based USD strength.
EUR/USD is trading at two-week’s lows while registering its largest daily drop since June 2018.

Flavio Tosti Independent Analyst

EUR/USD daily chart

The euro is trading at its lowest in two weeks while below its main SMAs. DXY (US dollar index) rose to the upside while pushing EUR/USD down recording its largest daily decline since June 2018.

EUR/USD four-hour chart

EUR/USD is consolidating Tuesday’s drop near the 1.1000 figure while just below the 200 SMA on the four-hour chart. As the sellers remain in control a break below the 1.0970 support can extend losses towards the 1.0885 and 1.0850 price levels. Resistance is seen near the 1.1016, 1.1073 and 1.1100 levels, according to the Technical Confluences Indicator.

Resistance: 1.1016, 1.1073, 1.1100

Support: 1.0970, 1.0885, 1.0850

Additional key levels

XAU/USD

Overview
Today last price	1528.88
Today Daily Change	15.89
Today Daily Change %	1.05
Today daily open	1512.99

Trends
Daily SMA20	1620.62
Daily SMA50	1587.99
Daily SMA100	1535.53
Daily SMA200	1499.98

Levels
Previous Daily High	1575.63
Previous Daily Low	1451.32
Previous Weekly High	1703.4
Previous Weekly Low	1504.72
Previous Monthly High	1689.4
Previous Monthly Low	1547.56
Daily Fibonacci 38.2%	1498.81
Daily Fibonacci 61.8%	1528.14
Daily Pivot Point S1	1451
Daily Pivot Point S2	1389
Daily Pivot Point S3	1326.69
Daily Pivot Point R1	1575.31
Daily Pivot Point R2	1637.62
Daily Pivot Point R3	1699.62

Author

Flavio Tosti

Independent Analyst

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