EUR/USD Price Analysis: Upside remains capped by 1.0100

EUR/USD fades the initial bull run to 0.9985/90.
The resumption of the selling pressure could retest the YTD low.

Pablo Piovano FXStreet

EUR/USD climbed to the proximity of 0.9990 earlier in the session, just to deflate afterwards and return to the 0.9930 region.

Against that, the inability of the pair to regain serious upside traction should keep the door to further retracement open in the near term. Extra losses face the immediate target at the 2022 low at 0.9877 (September 5) seconded by 0.9859 (December 2002 low) and then 0.9685 (October 2002 low).

The continuation of the downtrend remains in the pipeline, as the daily RSI around 36 still allows for some weakness prior to reach the oversold territory.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0780.

EUR/USD daily chart

EUR/USD

Overview
Today last price	0.9933
Today Daily Change	65
Today Daily Change %	0.06
Today daily open	0.9927

Trends
Daily SMA20	1.0072
Daily SMA50	1.0159
Daily SMA100	1.0379
Daily SMA200	1.0789

Levels
Previous Daily High	0.9953
Previous Daily Low	0.9878
Previous Weekly High	1.0079
Previous Weekly Low	0.9911
Previous Monthly High	1.0369
Previous Monthly Low	0.9901
Daily Fibonacci 38.2%	0.9907
Daily Fibonacci 61.8%	0.9924
Daily Pivot Point S1	0.9886
Daily Pivot Point S2	0.9845
Daily Pivot Point S3	0.9811
Daily Pivot Point R1	0.9961
Daily Pivot Point R2	0.9994
Daily Pivot Point R3	1.0035

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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