EUR/USD Price Analysis: A drop to 0.9859 remains on the cards

EUR/USD regains some composure following new cycle lows.
The breach of the 2022 low at 0.9952 should trigger extra losses.

Pablo Piovano FXStreet

EUR/USD attempts a bull run after dropping to the mid-0.9900s on Thursday, levels last seen in December 2002.

Despite the ongoing bounce, the pair’s bearish stance remains everything but abated for the time being. Against that, another convincing breakdown of the parity level should expose the YTD low at 0.9952 (July 14) ahead of the December 2002 low at 0.9859.

As long as the pair navigates below the 5-month support line around 1.0545, further losses remain in store.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1033.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0059
Today Daily Change	65
Today Daily Change %	0.42
Today daily open	1.0017

Trends
Daily SMA20	1.0352
Daily SMA50	1.0497
Daily SMA100	1.0697
Daily SMA200	1.1042

Levels
Previous Daily High	1.0064
Previous Daily Low	0.9952
Previous Weekly High	1.0463
Previous Weekly Low	1.0072
Previous Monthly High	1.0774
Previous Monthly Low	1.0359
Daily Fibonacci 38.2%	0.9995
Daily Fibonacci 61.8%	1.0021
Daily Pivot Point S1	0.9958
Daily Pivot Point S2	0.99
Daily Pivot Point S3	0.9847
Daily Pivot Point R1	1.007
Daily Pivot Point R2	1.0122
Daily Pivot Point R3	1.0181

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD drops below 1.1600 on broad USD strength

EUR/USD stays under bearish pressure and trades at a fresh six-week low below 1.1600 on Tuesday. Despite stronger-than-forecast inflation data from the Eurozone, the pair struggles to stage a rebound as the US Dollar continues to attract safe haven flows amid escalating geopolitical tensions in the Middle East.

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold drops below $5,200 on stronger USD, rallying US yields

Gold attracts some intraday selling and falls below $5,200 on Tuesday. The US Dollar climbs to a fresh high since January 20 and turns out to be a key factor exerting downward pressure on the commodity. Meanwhile, the benchmark 10-year US Treasury bond yield rises nearly 2% on the day, putting additional weight on XAU/USD's shoulders.

Crypto Today: Bitcoin, Ethereum, XRP pull back as sentiment remains in extreme market fear

The cryptocurrency market is broadly in the red on Tuesday as the Middle East grapples with an escalating war. Bitcoin (BTC) is in a pullback, trading below $67,000 at the time of writing, and most altcoins follow suit.

Middle East conflict ramps up a gear as energy price spike rips through markets

It’s another risk off day as geopolitical headwinds continue to batter financial markets. Although markets calmed during the US session and US stocks managed to post gains on Monday, this has not fed through to the European session, and stocks and bonds are sharply lower for a second day.

Hyperliquid Price Forecast: HYPE rises on commodities demand amid US-Iran war

Hyperliquid (HYPE) steadies above $33 at press time on Tuesday, marking its fourth consecutive day of recovery in a broadly volatile market due to the ongoing US-Israel strikes on Iran.