EUR/USD Price Analysis: Falls to near 1.0830 as bearish stance remains robust

EUR/USD could move downward to retesting the nine-day EMA at 1.0822.
Lagging indicators suggest that the bearish stance holds strong.
The psychological level of 1.0800 appears as the key support region.

Akhtar Faruqui FXStreet

EUR/USD snaps its four-day winning streak, declining to near 1.0830 during the early European hours on Monday. The pair could move downward to retest the nine-day Exponential Moving Average (EMA) at 1.0822.

Additionally, technical analysis suggests a bearish sentiment for the EUR/USD pair. The 14-day Relative Strength Index (RSI) is positioned below the 50 mark, indicating weakness in buying momentum.

The Moving Average Convergence Divergence (MACD) remains below the centerline and exhibits a convergence below the signal line. This alignment suggests a momentum shift for the EUR/USD pair. Traders are likely to await confirmation from this lagging indicator to provide a clearer trend direction.

The EUR/USD pair could find immediate support at the psychological level of 1.0800. A break below the latter could exert pressure on the pair to navigate the region around the major level at 1.0750, followed by the previous week’s low at 1.0724.

On the upside, the major level at 1.0850 appears as the immediate resistance, aligned with the 50.0% retracement level at 1.0852. A breakthrough above this level could lead the EUR/USD pair to explore the 61.8% Fibonacci retracement level of 1.0883, followed by the psychological level of 1.0900.

EUR/USD: Daily Chart

EUR/USD

Overview
Today last price	1.0831
Today Daily Change	-0.0007
Today Daily Change %	-0.06
Today daily open	1.0838

Trends
Daily SMA20	1.085
Daily SMA50	1.0829
Daily SMA100	1.0875
Daily SMA200	1.0833

Levels
Previous Daily High	1.0848
Previous Daily Low	1.0791
Previous Weekly High	1.0876
Previous Weekly Low	1.0725
Previous Monthly High	1.0981
Previous Monthly Low	1.0768
Daily Fibonacci 38.2%	1.0826
Daily Fibonacci 61.8%	1.0813
Daily Pivot Point S1	1.0803
Daily Pivot Point S2	1.0769
Daily Pivot Point S3	1.0747
Daily Pivot Point R1	1.086
Daily Pivot Point R2	1.0882
Daily Pivot Point R3	1.0917

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

AUD/USD turns lower toward 0.7000 after mixed Australian jobs data

AUD/USD is losing ground toward 0.7000 in the Asian session on Thursday, following the release of the Australian August jobs report, which showed that the Unemployment Rate rose to 4.6% versus 4.5% expected, while Employment Change beat estimates, arriving at 39.5K. Traders also remain unnerved ahead of the critical Trump-Xi meeting.

USD/JPY keeps the red near 158.00 as Japanese Yen firms up

USD/JPY retreats from three-week highs and holds losses near 158.00 in the Asian session on Thursday. Surging Japanese bond yields lift the Yen amid looming intervention risks, while the US Dollar preserves overnight gains to a two-month high amid hawkish Fed bets and elevated US bond yields.

Gold flat lines below $4,300 as Fed hike bets cap upside ahead of Trump-Xi meet

Gold is consolidating near a one-week low, touched during the Asian session, as traders wait on the sidelines ahead of a crucial meeting between US President Donald Trump and his Chinese counterpart Xi Jinping. Expectations for a major announcement are low, though market players will look for any progress on rare earths, technology restrictions, and an extension of the current US-China truce.

Bitcoin slips to $84,000 on rate hike bets – Worldcoin, Pepe lead losses

Bitcoin (BTC) price trades below $84,000 on Thursday, extending losses after a 2% decline the previous day. The pullback aligns with renewed inflation and rate-hike concerns, as US composite and services PMIs rose to 58.4 and 58.7 in September. Worldcoin (WLD) and Pepe (PEPE) recorded double-digit losses over the last 24 hours, emerging as the worst performers.

SNB leaves interest rates unchanged at 0%

Swiss National Bank leaves its key policy rates unchanged at 0%, as expected by market particiapnts. The key highlights of SNB’s monetary policy assessment are as followed: Banks' sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold. SNB sees 2026 inflation at 0.7% (previous forecast was for 0.6%). The main risk to the economic outlook for Switzerland stems from developments in the global economy.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.