EUR/USD Price Analysis: Further consolidation remains on the cards

  • The correction lower in EUR/USD met support in the 1.0870 area.
  • The pair’s upside remains limited by the 200-day SMA bove 1.1000.

The decline in EUR/USD seems to have bottomed out around Monday’s lows in the 1.0870 region for the time being.

If sellers regain the upper hand, then a potential drop to the previous consolidative pattern in the 1.0800 neighbourhood remains a palpable chance. Above the 200-day SMA, today at 1.1011, the selling pressure is expected to mitigate somewhat and allow for a probable move to late March peaks in the mid-1.1100s.

Looking at the broader picture, the rangebound theme is expected to prevail at least in the short-term horizon.

EUR/USD daily chart


Today last price 1.0898
Today Daily Change 38
Today Daily Change % -0.04
Today daily open 1.0902
Daily SMA20 1.0872
Daily SMA50 1.0885
Daily SMA100 1.0965
Daily SMA200 1.1015
Previous Daily High 1.0954
Previous Daily Low 1.0885
Previous Weekly High 1.1009
Previous Weekly Low 1.08
Previous Monthly High 1.1039
Previous Monthly Low 1.0727
Daily Fibonacci 38.2% 1.0912
Daily Fibonacci 61.8% 1.0928
Daily Pivot Point S1 1.0874
Daily Pivot Point S2 1.0846
Daily Pivot Point S3 1.0806
Daily Pivot Point R1 1.0942
Daily Pivot Point R2 1.0982
Daily Pivot Point R3 1.101



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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

AUD/USD: Bulls keep the reins with eyes on 0.7000 ahead of China CPI/PPI

AUD/USD portrays a fourth attempt to pierce the key 0.7000 threshold. Broad US dollar weakness, upbeat equities and commodities helped Aussie to ignore pandemic fears. China inflation data, Australian housing market figures and US Jobless Claims to decorate the calendar.


Gold: Will it be a smooth journey to the all time high?

The daily chart shows an acceleration away from the top of the flag pattern. The price has now broken out of the blue resistance line which was the previous consolidation high back in 2011 after the price dropped from the all-time high.

Gold News

USD/JPY: There is a big Fib confluence target on the downside at 106.90

USD/JPY has been dropping steadily throughout the session and broke the previous wave low of 107.24. This makes a new lower low lower high formation on the hourly chart after the previous wave low was a resolute support zone.


Look East for market direction

When the stock market of the world’s second largest economy jumps more than 450 points, or 8%, in a week, it is time to sit up and take notice. The Shanghai Composite index, which acts as the benchmark for Chinese stocks, is now at 2018 levels.

Read more

WTI on the move to fresh session highs, testing $41 the figure

We are now over 1% higher on the day despite the crude oil inventories in the United States swelling by 5.7 million barrels in the week to July 3, information that was provided by the Energy Information Administration. 

Oil News