EUR/USD Technical Analysis: Further selling should see 1.0839 re-tested in the near term. Rebound not ruled out on ‘oversold’ condition

EUR/USD is intensifying the leg lower today, extending the recent breakdown of the psychological support at 1.10 the figure.
The persistent offered bias carries the potential to drag the pair to 1.0839, where is located the May 2017 low.
Spot has moved into the ‘oversold’ territory as per the RSI, allowing the possibility of some near term rebound. If that is the case, interim resistance should emerge at the 10-day SMA at 1.1051 ahead of the 21-day SMA at 1.1104.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0942
Today Daily Change	41
Today Daily Change %	-0.26
Today daily open	1.097

Trends
Daily SMA20	1.1114
Daily SMA50	1.1181
Daily SMA100	1.1201
Daily SMA200	1.1276

Levels
Previous Daily High	1.0998
Previous Daily Low	1.0958
Previous Weekly High	1.1164
Previous Weekly Low	1.0962
Previous Monthly High	1.1251
Previous Monthly Low	1.0962
Daily Fibonacci 38.2%	1.0973
Daily Fibonacci 61.8%	1.0982
Daily Pivot Point S1	1.0953
Daily Pivot Point S2	1.0935
Daily Pivot Point S3	1.0913
Daily Pivot Point R1	1.0993
Daily Pivot Point R2	1.1015
Daily Pivot Point R3	1.1033

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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