EUR/USD Price Analysis: 100-day SMA remains on seller’s radar

EUR/USD fails to cross the confluence of 50-day SMA and 38.2% Fibonacci retracement.
23.6% Fibonacci retracement, a three-week-old falling trend line add to the resistance.
An ascending support line since early October offers additional rest below 100-day SMA.

Anil Panchal FXStreet

EUR/USD declines to 1.1090 during early Tuesday. That said, the pair failed to cross the confluence of 50-day SMA and 38.2% Fibonacci retracement of its October 01 to December 31 rise during the previous day.

As a result, the quote is expected to revisit the 100-day SMA support level of 1.1073. However, an upward sloping trend line since early-October, at 1.1068 could restrict the pair’s further downside.

In a case where sellers dominate below 1.1068, 50% And 61.8% Fibonacci retracement levels of 1.1060 and 1.1015 will return to the charts.

Meanwhile, pair’s sustained break above 1.1100/05 resistance confluence can trigger fresh recovery to 1.1130 and then to 23.6% Fibonacci retracement, a three-week-old falling trend line around 1.1155/60.

EUR/USD daily chart

Trend: Bearish

Additional important levels

Overview
Today last price	1.109
Today Daily Change	-8 pips
Today Daily Change %	-0.07%
Today daily open	1.1098

Trends
Daily SMA20	1.1143
Daily SMA50	1.11
Daily SMA100	1.1071
Daily SMA200	1.1136

Levels
Previous Daily High	1.1102
Previous Daily Low	1.1077
Previous Weekly High	1.1173
Previous Weekly Low	1.1086
Previous Monthly High	1.124
Previous Monthly Low	1.1002
Daily Fibonacci 38.2%	1.1092
Daily Fibonacci 61.8%	1.1087
Daily Pivot Point S1	1.1083
Daily Pivot Point S2	1.1067
Daily Pivot Point S3	1.1058
Daily Pivot Point R1	1.1108
Daily Pivot Point R2	1.1117
Daily Pivot Point R3	1.1133

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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