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.

Pablo Piovano FXStreet

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 price	0.9718
Today Daily Change	55
Today Daily Change %	0.16
Today daily open	0.9702

Trends
Daily SMA20	0.984
Daily SMA50	0.9985
Daily SMA100	1.0202
Daily SMA200	1.061

Levels
Previous Daily High	0.9753
Previous Daily Low	0.9682
Previous Weekly High	1
Previous Weekly Low	0.9726
Previous Monthly High	1.0198
Previous Monthly Low	0.9536
Daily Fibonacci 38.2%	0.9709
Daily Fibonacci 61.8%	0.9726
Daily Pivot Point S1	0.9671
Daily Pivot Point S2	0.9641
Daily Pivot Point S3	0.96
Daily Pivot Point R1	0.9743
Daily Pivot Point R2	0.9784
Daily Pivot Point R3	0.9814

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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