• The EUR/USD snaps two straight weeks of gains, drops 0.42%.
  • The common currency is trendless, within the boundaries of 1.0096-1.0278.
  • From a daily chart perspective, the EUR/USD might probe the 1.0096 low before a re-test of YTD lows below the parity.

The EUR/USD slumps late as Wall Street close looms, down by 0.62%, battered by an upbeat US employment report that bolstered the greenback while increasing the odds of another “jumbo” rate hike by the Fed in the September meeting. Meanwhile, the EUR/USD Is trading at 1.0180 at the time of writing.

EUR/USD Price Analysis: Technical outlook

The shared currency daily chart illustrates the pair consolidating within the 1.0096-1.0278 area. Although the US Nonfarm payrolls report underpinned the greenback, the EUR/USD stood tall and bounced off the daily low of 1.0141, reclaiming the 20-day EMA. Still, the major is subject to selling pressure, as the RSI shifted gears, aiming downwards, and crossed below its 7-day SMA, opening the door for further downside.

Hence, the EUR/USD first support would be the 20-day EMA at 1.0158. Break below will expose the bottom of the abovementioned trading range at 1.0096, which, once cleared, opens the way to refresh YTD lows below parity.

On the flip side, the EUR/USD first resistance is the 1.0200 figure. A breach of the latter will send the euro towards August’s 2 daily high at 1.0293 before probing the 1.0300 figure.

EUR/USD Daily chart

EUR/USD Key Technical Levels

EUR/USD

Overview
Today last price 1.0180
Today Daily Change -0.0083
Today Daily Change % -0.81
Today daily open 1.0246
 
Trends
Daily SMA20 1.0161
Daily SMA50 1.0387
Daily SMA100 1.0571
Daily SMA200 1.0936
 
Levels
Previous Daily High 1.0254
Previous Daily Low 1.0154
Previous Weekly High 1.0258
Previous Weekly Low 1.0097
Previous Monthly High 1.0486
Previous Monthly Low 0.9952
Daily Fibonacci 38.2% 1.0216
Daily Fibonacci 61.8% 1.0192
Daily Pivot Point S1 1.0182
Daily Pivot Point S2 1.0119
Daily Pivot Point S3 1.0083
Daily Pivot Point R1 1.0281
Daily Pivot Point R2 1.0317
Daily Pivot Point R3 1.0381

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD stays below 0.9800 after US inflation data

EUR/USD stays below 0.9800 after US inflation data

EUR/USD continues to trade in negative territory below 0.9800 in the American session on Friday. The data from the US showed that the annual PCE inflation declined to 6.2% in August but the stronger-than-expected core reading didn't allow the pair to gain traction.

EUR/USD News

GBP/USD rebounds from daily lows, reclaims 1.1100

GBP/USD rebounds from daily lows, reclaims 1.1100

GBP/USD fell to a fresh daily low below 1.1030 but managed to reverse its direction and climbed above 1.1100 during the American trading hours on Friday. The pair remains on track to snap a two-week losing streak despite having suffered heavy losses earlier in the week.

GBP/USD News

Gold extends daily rally beyond $1,670

Gold extends daily rally beyond $1,670

Gold preserved its bullish momentum and rose above $1,670 after the mixed inflation data from the US on Friday. The benchmark 10-year yield is down more than 2% as markets look to wrap up the third quarter, fueling XAU/USD's daily rally. 

Gold News

Shiba Eternity download day the biggest bullish catalyst in SHIB history?

Shiba Eternity download day the biggest bullish catalyst in SHIB history?

Shytoshi Kusama, the project lead for Shiba Inu, has dropped a teaser about Shiba Eternity games for the SHIB community. Proponents expect the launch of the collectible card game to be a bullish catalyst for Shiba Inu price. 

Read more

SPDR S&P 500 ETF Trust (SPY) Forecast: We are teetering on the brink

SPDR S&P 500 ETF Trust (SPY) Forecast: We are teetering on the brink

Equity markets remain at the precipice of a technical collapse, which we examine in the weekly long-term chart below. The overall picture remains one of nervousness ahead of the upcoming Q3 earnings season.

Read more

Forex MAJORS

Cryptocurrencies

Signatures