EUR/USD Price Analysis: The 1.0910 zone holds the downside for now

EUR/USD reverses part of the weekly leg lower on Wednesday.
Initial support emerges at the monthly low of 1.0912.

Pablo Piovano FXStreet

EUR/USD regains some composure and bounces to the 1.0990 region on Wednesday.

In case losses accelerate, spot should face interim contention at the 55-day and 100-day SMAs at 1.0930 and 1.0924, respectively, ahead of the so far August low at 1.0912 (August 3). In case the latter is breached on a sustainable way, the pair could embark on a move to the July low of 1.0833 (July 6).

In the meantime, while below the weekly high of 1.1149 (July 27), the pair risks further retracements for the time being.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0760.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0984
Today Daily Change	39
Today Daily Change %	0.26
Today daily open	1.0956

Trends
Daily SMA20	1.1077
Daily SMA50	1.0947
Daily SMA100	1.0925
Daily SMA200	1.0756

Levels
Previous Daily High	1.1011
Previous Daily Low	1.0929
Previous Weekly High	1.1046
Previous Weekly Low	1.0912
Previous Monthly High	1.1276
Previous Monthly Low	1.0834
Daily Fibonacci 38.2%	1.0961
Daily Fibonacci 61.8%	1.098
Daily Pivot Point S1	1.092
Daily Pivot Point S2	1.0884
Daily Pivot Point S3	1.0838
Daily Pivot Point R1	1.1002
Daily Pivot Point R2	1.1048
Daily Pivot Point R3	1.1084

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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