Black Pipper

Forex Dreamers

EUR/USD: Fall below 1.0990 to 1.0930

The EUR/USD is in a narrow range of around 1.10 under downward pressure. Immediately above this is the 55-day SMA near the 1.1040. Downside pressures are likely to subside above this level and a test of the 100-day SMA of 1.1074 and last week’s high of 1.1095/1.1100 will be possible. If the pair breaks the 1.10 and the 1.0900, the losses can be extended to 1.0930, and should this level not withstand the downside pressure, a test of the 2019 low of 1.0879 can not be ruled out.

Technical levels

S1 1.0998
S2 1.0987
S3 1.0976

R1 1.1020
R2 1.1031
R3 1.1042

 

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