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EUR/USD Price Analysis: The 100-day SMA holds the downside…for now

  • EUR/USD remains offered and trades in multi-day lows.
  • Further south comes in the 100-day SMA near 1.2040.

EUR/USD accelerates the weekly leg lower following a failed move to retake the 1.2100 mark and above earlier on Thursday.

If the selling impetus picks up further pace, then the pair could attempt to re-visit the 1.2040 zone, where is located the 100-day SMA. There is, however, a minor contention area around 1.2060, where coincide the 20-day SMA and a Fibo level (of the November-January rally).

The constructive stance on EUR/USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1950.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.2069
Today Daily Change55
Today Daily Change %-0.03
Today daily open1.2073
 
Trends
Daily SMA201.2064
Daily SMA501.1951
Daily SMA1001.2046
Daily SMA2001.1955
 
Levels
Previous Daily High1.2152
Previous Daily Low1.2066
Previous Weekly High1.2172
Previous Weekly Low1.1986
Previous Monthly High1.215
Previous Monthly Low1.1713
Daily Fibonacci 38.2%1.2099
Daily Fibonacci 61.8%1.2119
Daily Pivot Point S11.2042
Daily Pivot Point S21.201
Daily Pivot Point S31.1955
Daily Pivot Point R11.2128
Daily Pivot Point R21.2184
Daily Pivot Point R31.2215

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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