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EUR/USD Price Analysis: The continuation of the downside could visit the YTD low

  • EUR/USD attempts a mild recovery just above the 0.9700 barrier.
  • If bears push harder, the pair could see the 2022 low retested.

EUR/USD finally sees some respite to the persistent decline and rebounds from lows near 0.9670 on Tuesday.

Despite the bounce, further losses remain well in the pipeline for the time being. That said, further weakness could drag the pair to revisit the 2022 low at 0.9535 (September 28) in the near term ahead of 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 1.0600.

EUR/USD daily chart

EUR/USD

Overview
Today last price0.9718
Today Daily Change55
Today Daily Change %0.16
Today daily open0.9702
 
Trends
Daily SMA200.984
Daily SMA500.9985
Daily SMA1001.0202
Daily SMA2001.061
 
Levels
Previous Daily High0.9753
Previous Daily Low0.9682
Previous Weekly High1
Previous Weekly Low0.9726
Previous Monthly High1.0198
Previous Monthly Low0.9536
Daily Fibonacci 38.2%0.9709
Daily Fibonacci 61.8%0.9726
Daily Pivot Point S10.9671
Daily Pivot Point S20.9641
Daily Pivot Point S30.96
Daily Pivot Point R10.9743
Daily Pivot Point R20.9784
Daily Pivot Point R30.9814

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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