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EUR/USD Price Analysis: Euro under heavy selling pressure post-NFP

  • Broad-based USD strength is pushing the EUR/USD down near four-month lows.
  • The level to beat for sellers is the 1.0930 support. 
 

EUR/USD daily chart 

 
The euro is trading in a weak downtrend below its main simple moving averages (SMAs) as the spot is hitting levels not seen since October 2019. The Non-farm payrolls reported that the US added 225K jobs vs. 160K expected.
 

EUR/USD four-hour chart

 
EUR/USD is trading in a bear channel below the main SMAs while bears are eying a break below the 1.0930 support. As the euro remains under heavy selling pressure, a break below the above-mentioned level is likely to lead to further declines towards the 1.0912 and 1.0877 levels, according to the Technical Confluences Indicator. Resistances are seen near 1.0964, 1.0980 and the 1.1000 figure.
 
Resistance: 1.0964, 1.0980, 1.1000
Support: 1.0930, 1.0912, 1.0877
 
   
 

Additional key levels 

EUR/USD

Overview
Today last price1.0957
Today Daily Change-0.0022
Today Daily Change %-0.20
Today daily open1.0979
 
Trends
Daily SMA201.1069
Daily SMA501.1101
Daily SMA1001.1071
Daily SMA2001.1125
 
Levels
Previous Daily High1.1014
Previous Daily Low1.0965
Previous Weekly High1.1092
Previous Weekly Low1.0992
Previous Monthly High1.1225
Previous Monthly Low1.0992
Daily Fibonacci 38.2%1.0984
Daily Fibonacci 61.8%1.0995
Daily Pivot Point S11.0958
Daily Pivot Point S21.0937
Daily Pivot Point S31.0909
Daily Pivot Point R11.1007
Daily Pivot Point R21.1035
Daily Pivot Point R31.1056

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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