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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD edges higher to mid-1.1600s; looks to US PCE Price Index for fresh impetus

The EUR/USD pair attracts some dip-buyers during the Asian session on Friday and recovers a part of the previous day's retracement slide from the 1.1680 region, or the highest level since October 17. Spot prices currently trade around mid-1.1600s and remain on track to register gains for the second straight week.

GBP/USD: Constructive view prevails above 1.3300 ahead of US PCE inflation data

The GBP/USD pair trades on a flat note near 1.3330 during the Asian trading hours on Friday. Traders prefer to wait on the sidelines ahead of the key US inflation report later on Friday. The US delayed Personal Consumption Expenditures Price Index report for September could offer some hints about the US interest rate path.

Gold edges higher amid dovish Fed expectations; traders await US PCE inflation data

Gold struggles to capitalize on the overnight bounce from the $4,175 area, or the vicinity of the weekly trough, and oscillates in a narrow trading range during the Asian session on Friday. Traders now seem reluctant and opt to move to the sidelines ahead of the September Personal Consumption Expenditures Price Index, or the Federal Reserve's preferred inflation gauge.

Pi Network: Bearish streak nears critical support trendline

Pi Network edges lower on Friday for the third consecutive day, approaching a local support trendline. The on-chain data suggests an increase in supply pressure as Centralized Exchanges experience a surge in inflows. Technically, the pullback in PI risks further losses, as the Moving Average Convergence Divergence indicator is flashing a sell signal.

Why the Fed may cut rates in December: Understanding the policy shift

The Fed has gone through a noticeable policy swing in recent months - from initiating a rate cut, to signaling a potential pause, and now shifting once again toward another cut in December. This has created understandable confusion among traders and investors trying to interpret the Fed’s reaction function.

XRP edges lower despite record on-chain activity and steady ETF inflows

Ripple is trading under pressure at the time of writing on Thursday, after bulls failed to break the short-term resistance at $2.22. The reversal may extend toward Monday’s low of $1.98, especially if risk-off sentiment persists in the broader cryptocurrency market.