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.

Pablo Piovano FXStreet

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 price	1.2069
Today Daily Change	55
Today Daily Change %	-0.03
Today daily open	1.2073

Trends
Daily SMA20	1.2064
Daily SMA50	1.1951
Daily SMA100	1.2046
Daily SMA200	1.1955

Levels
Previous Daily High	1.2152
Previous Daily Low	1.2066
Previous Weekly High	1.2172
Previous Weekly Low	1.1986
Previous Monthly High	1.215
Previous Monthly Low	1.1713
Daily Fibonacci 38.2%	1.2099
Daily Fibonacci 61.8%	1.2119
Daily Pivot Point S1	1.2042
Daily Pivot Point S2	1.201
Daily Pivot Point S3	1.1955
Daily Pivot Point R1	1.2128
Daily Pivot Point R2	1.2184
Daily Pivot Point R3	1.2215

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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