Black Pipper

Forex Dreamers

EUR/USD: Chance to test the 2019 low of 1.0926 rises

The downward movement of the EUR/USD has been strengthened in the past few hours after the European PMI disappointed results. The downside hit 1.0970, opening the door for a test of the year low of 1.0920 (3 September).

Bullish attempts will encounter resistance on the short-term resistance line, which today stands at 1.1071. An increase beyond this targets the bottom of the 1.1100, where the 55-day SMA and monthly highs are located.

Technical Levels

S1 1.0965
S2 1.0936
S3 1.0906

R1 1.1024
R2 1.1054
R3 1.1083

 

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