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EUR/USD Price Analysis: Further decline remains on the table

  • EUR/USD comes under pressure following Friday’s tops.
  • Extra weakness could prompt the pair to drop to 1.0450.

EUR/USD revisits the 1.0520 region following renewed downside pressure and following Friday’s climb to as high as the 1.0600 region.

In case bulls regain the initiative, the pair should initially retarget the minor barrier at 1.0617 (September 29) ahead of the weekly peak of 1.0767 (September 12). On the flip side, if bears regain the upper hand, the pair could slip back to the area of yearly lows around 1.0450 (October 3).

Meanwhile, further losses remain on the table as long as the pair navigates the area below the key 200-day SMA, today at 1.0823.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0547
Today Daily Change55
Today Daily Change %-0.38
Today daily open1.0587
 
Trends
Daily SMA201.0613
Daily SMA501.0771
Daily SMA1001.0843
Daily SMA2001.0825
 
Levels
Previous Daily High1.06
Previous Daily Low1.0482
Previous Weekly High1.06
Previous Weekly Low1.0448
Previous Monthly High1.0882
Previous Monthly Low1.0488
Daily Fibonacci 38.2%1.0555
Daily Fibonacci 61.8%1.0527
Daily Pivot Point S11.0513
Daily Pivot Point S21.0439
Daily Pivot Point S31.0395
Daily Pivot Point R11.063
Daily Pivot Point R21.0674
Daily Pivot Point R31.0748

Author

Pablo Piovano

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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