EUR/USD Price Analysis: Bears keep controls below 15-month-old support line


  • EUR/USD holds lower ground near 10-week low, after two-day downtrend.
  • Further losses envisioned on key support break, bearish MACD.
  • 200-day SMA adds to the upside filters, yearly bottom on sellers’ radar.

EUR/USD remains pressured around 1.1910, after breaking a multi-day-old support line the previous day, during early Friday morning in Asia. The pair’s downside break of an ascending support line from March 2020 joins bearish MACD to keep sellers hopeful.

However, sellers await a clear break of the 1.1900 threshold to aim for early March tops near 1.1835.

Following that, multiple tops marked amid late March and initial April month’s trading around the 1.1800 round figure could test the EUR/USD bears before directing them to the yearly low near 1.1700 psychological magnet.

Meanwhile, corrective pullback beyond the support-turned-resistance line near 1.1925-30 needs to cross the 200-day SMA surrounding the 1.2000 level to convince short-term buyers.

It’s worth noting that the early June’s low near 1.2100 and April peak surrounding 1.2150 could test the EUR/USD bulls past 1.2000 before giving them controls.

EUR/USD daily chart

Trend: Bearish

Additional important levels

Overview
Today last price 1.191
Today Daily Change -0.0084
Today Daily Change % -0.70%
Today daily open 1.1994
 
Trends
Daily SMA20 1.2173
Daily SMA50 1.2098
Daily SMA100 1.204
Daily SMA200 1.1995
 
Levels
Previous Daily High 1.2135
Previous Daily Low 1.1994
Previous Weekly High 1.2218
Previous Weekly Low 1.2093
Previous Monthly High 1.2266
Previous Monthly Low 1.1986
Daily Fibonacci 38.2% 1.2048
Daily Fibonacci 61.8% 1.2081
Daily Pivot Point S1 1.1948
Daily Pivot Point S2 1.1901
Daily Pivot Point S3 1.1807
Daily Pivot Point R1 1.2088
Daily Pivot Point R2 1.2182
Daily Pivot Point R3 1.2229

 

 

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