EUR/USD Price Analysis: Initial support emerges near 1.0910

EUR/USD appear to have met some contention around 1.0910.
The loss of this region exposes a drop to 1.0830.

Pablo Piovano FXStreet

The selling pressure around EUR/USD remains everything but abated on Thursday, as this time the pair visits new multi-week lows around 1.0910.

Considering the ongoing price action, spot risks more sustained losses once 1.0900 is cleared. Against that, the pair could then challenge the July low of 1.0833 (July 6) sooner rather than later.

A deeper retracement from here should put a potential test of the key 200-day SMA at 1.0737 back on the radar, although this scenario remains out of favour for the time being.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0926
Today Daily Change	44
Today Daily Change %	-0.11
Today daily open	1.0938

Trends
Daily SMA20	1.1074
Daily SMA50	1.0926
Daily SMA100	1.0913
Daily SMA200	1.0734

Levels
Previous Daily High	1.102
Previous Daily Low	1.0918
Previous Weekly High	1.115
Previous Weekly Low	1.0944
Previous Monthly High	1.1276
Previous Monthly Low	1.0834
Daily Fibonacci 38.2%	1.0957
Daily Fibonacci 61.8%	1.0981
Daily Pivot Point S1	1.0898
Daily Pivot Point S2	1.0857
Daily Pivot Point S3	1.0796
Daily Pivot Point R1	1.1
Daily Pivot Point R2	1.1061
Daily Pivot Point R3	1.1102

Author

Pablo Piovano

FXStreet

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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