EUR/USD Price Analysis: Still room for a drop to the 2022 low

EUR/USD gathers extra downside traction and breaches 0.9700.
A deeper retracement could expose a move to the YTD low.

Pablo Piovano FXStreet

EUR/USD drops for the fourth consecutive session and revisits the sub-0.9700 region at the beginning of the week.

Further losses appear well on the cards for the time being. Against that, the pair should not meet any contention of note until the 2022 low at 0.9535 (September 28) prior to the round level at 0.9500.

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0608.

EUR/USD daily chart

EUR/USD

Overview
Today last price	0.9693
Today Daily Change	72
Today Daily Change %	-0.53
Today daily open	0.9745

Trends
Daily SMA20	0.9861
Daily SMA50	0.9996
Daily SMA100	1.0211
Daily SMA200	1.0618

Levels
Previous Daily High	0.9817
Previous Daily Low	0.9726
Previous Weekly High	1
Previous Weekly Low	0.9726
Previous Monthly High	1.0198
Previous Monthly Low	0.9536
Daily Fibonacci 38.2%	0.9761
Daily Fibonacci 61.8%	0.9782
Daily Pivot Point S1	0.9708
Daily Pivot Point S2	0.9672
Daily Pivot Point S3	0.9617
Daily Pivot Point R1	0.9799
Daily Pivot Point R2	0.9854
Daily Pivot Point R3	0.989

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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