EUR/USD Technical Analysis: Break of 21/200-day SMA signals further declines


  • EUR/USD drops to a two-week low, registers three-day losing streak.
  • Bearish MACD indicates extended downside to 50-day SMA.
  • A three-month-old rising trend line adds to the support.

EUR/USD declines to 1.1107 amid the initial Asian session on Thursday. The pair traders near the lowest levels in two-week, while being on the back foot for the third day in a row, as it breaks the key SMA confluence the previous day.

With this, sellers may keep a 50-day SMA level of 1.1093 as the immediate target whereas 50% Fibonacci retracement of October-December upside, at 1.1060, could lure them afterward.

However, an upward sloping trend line since October-start, at 1.1048, could restrict the pair’s further downside.

It’s worth mentioning that the 12-day MACD indicator flashes bearish signs.

On the upside, EUR/USD prices need to close beyond the confluence of 21 and 200-day SMA, at 1.1140, to cross the 1.1200 round-figure and aim for the week’s high near 1.1210. In doing so, the 1.1240 top could regain the Bull’s attention.

EUR/USD daily chart

Trend: Bearish

Additional important levels

Overview
Today last price 1.1106
Today Daily Change -0.0038
Today Daily Change % -0.34%
Today daily open 1.1144
 
Trends
Daily SMA20 1.1144
Daily SMA50 1.1095
Daily SMA100 1.1066
Daily SMA200 1.1142
 
Levels
Previous Daily High 1.12
Previous Daily Low 1.1134
Previous Weekly High 1.1276
Previous Weekly Low 1.1124
Previous Monthly High 1.124
Previous Monthly Low 1.1002
Daily Fibonacci 38.2% 1.1159
Daily Fibonacci 61.8% 1.1175
Daily Pivot Point S1 1.1118
Daily Pivot Point S2 1.1092
Daily Pivot Point S3 1.1051
Daily Pivot Point R1 1.1185
Daily Pivot Point R2 1.1226
Daily Pivot Point R3 1.1252

 

 

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