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EUR/USD Price Analysis: Rising bets for a move to 1.0830

  • EUR/USD accelerates the decline and drops to 1.0890.
  • The following contention area appears around 1.0830.

The pessimism around EUR/USD gathers further traction in the second half of the week and drags the pair back to the 1.0890 region, or multi-week lows, on Friday.

If bears remain in control, spot could initially revisit the interim 55-day SMA at 1.0847 ahead of the weekly low at 1.0831 (April 10).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0451.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0904
Today Daily Change43
Today Daily Change %-0.11
Today daily open1.0916
 
Trends
Daily SMA201.0992
Daily SMA501.0867
Daily SMA1001.0797
Daily SMA2001.0449
 
Levels
Previous Daily High1.0998
Previous Daily Low1.09
Previous Weekly High1.1092
Previous Weekly Low1.0942
Previous Monthly High1.1095
Previous Monthly Low1.0788
Daily Fibonacci 38.2%1.0938
Daily Fibonacci 61.8%1.0961
Daily Pivot Point S11.0878
Daily Pivot Point S21.084
Daily Pivot Point S31.078
Daily Pivot Point R11.0976
Daily Pivot Point R21.1036
Daily Pivot Point R31.1074

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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