EUR/USD Price Analysis: Below 0.9800 comes 0.9685

EUR/USD regains some poise and bounces off 0.9800.
The loss of this region exposes a drop to the 0.9685 level.

Pablo Piovano FXStreet

EUR/USD prints new cycle lows around 0.9800 and sparks a marked rebound soon afterwards.

The pair seems to have met some apparent contention in the 0.9800 neighbourhood so far. Further weakness, however, remains well in store for the time being and could force spot to challenge this zone sooner rather than later. The breakdown of this region could lead up to a visit to the October 2022 low at 0.9685.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0701.

EUR/USD daily chart

EUR/USD

Overview
Today last price	0.9878
Today Daily Change	101
Today Daily Change %	0.42
Today daily open	0.9837

Trends
Daily SMA20	0.9985
Daily SMA50	1.0091
Daily SMA100	1.0299
Daily SMA200	1.0711

Levels
Previous Daily High	0.9976
Previous Daily Low	0.9813
Previous Weekly High	1.0198
Previous Weekly Low	0.9945
Previous Monthly High	1.0369
Previous Monthly Low	0.9901
Daily Fibonacci 38.2%	0.9876
Daily Fibonacci 61.8%	0.9914
Daily Pivot Point S1	0.9775
Daily Pivot Point S2	0.9713
Daily Pivot Point S3	0.9612
Daily Pivot Point R1	0.9938
Daily Pivot Point R2	1.0039
Daily Pivot Point R3	1.0101

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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