EUR/USD Price Analysis: Another visit to the October low appears likely

EUR/USD comes under pressure and puts 0.9700 to the test.
Further south emerges the October low near 0.9630.

Pablo Piovano FXStreet

EUR/USD accelerates losses and flirts with the key 0.9700 neighbourhood at the end of the week.

In case losses accelerate and the pair breaches 0.9700, then the next significant support is expected to appear at the October low at 0.9631 (October 13). Once cleared, there are no contention levels of note until the 2022 low at 0.9535 (September 28).

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0536.

EUR/USD daily chart

EUR/USD

Overview
Today last price	0.9758
Today Daily Change	98
Today Daily Change %	-0.30
Today daily open	0.9787

Trends
Daily SMA20	0.9767
Daily SMA50	0.9913
Daily SMA100	1.0125
Daily SMA200	1.0547

Levels
Previous Daily High	0.9846
Previous Daily Low	0.9755
Previous Weekly High	0.9809
Previous Weekly Low	0.9632
Previous Monthly High	1.0198
Previous Monthly Low	0.9536
Daily Fibonacci 38.2%	0.9811
Daily Fibonacci 61.8%	0.9789
Daily Pivot Point S1	0.9746
Daily Pivot Point S2	0.9705
Daily Pivot Point S3	0.9655
Daily Pivot Point R1	0.9837
Daily Pivot Point R2	0.9887
Daily Pivot Point R3	0.9928

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.

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