EUR/USD Technical Analysis: Clings to 38.2% Fibo, below 50-day SMA

EUR/USD struggles to extend the recent downside.
AN upside clearance of 50-day SMA highlights 1.1070/75 support-turned-resistance.
1.1000, 1.0940 become the key rest-points.

Anil Panchal FXStreet

EUR/USD sellers seem taking a hat around 38.2% Fibonacci retracement of August-October downpour as the quote seesaws near 1.1020 by the press time of early Monday.

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Even so, buyers still stay away as 50-day Simple Moving Average (SMA) level of 1.1040 limits immediate upside, a break of which could trigger pair’s fresh run-up to 1.1070/75 area including mid-September highs and late-October lows.

If at all prices remain positive above 1.1075, 61.8% Fibonacci retracement level of 1.1110 and 1.1175/80 region comprising tops marked since October 21 will be crucial for the bulls.

Alternatively, pair’s sustained declines below 38.2% Fibonacci retracement level of 1.1020 makes it vulnerable to revisit 1.1000 mark while early-October lows near 1.0940 could gain bears’ attention afterward.

EUR/USD daily chart

Trend: pullback expected

additional important levels

Overview
Today last price	1.102
Today Daily Change	-2 pips
Today Daily Change %	-0.02%
Today daily open	1.1022

Trends
Daily SMA20	1.1102
Daily SMA50	1.104
Daily SMA100	1.1115
Daily SMA200	1.1188

Levels
Previous Daily High	1.1056
Previous Daily Low	1.1016
Previous Weekly High	1.1176
Previous Weekly Low	1.1016
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1032
Daily Fibonacci 61.8%	1.1041
Daily Pivot Point S1	1.1007
Daily Pivot Point S2	1.0992
Daily Pivot Point S3	1.0967
Daily Pivot Point R1	1.1047
Daily Pivot Point R2	1.1072
Daily Pivot Point R3	1.1087

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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