EUR/USD Price Analysis: Recovery looks unsustainable

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Tác giả : forexvua
Lúc 19:49, 23/09/21
  • EUR/USD picks up traction and bounces off monthly lows.
  • Another test of the 2021 lows remains on the cards.

EUR/USD finally regains the smile and retakes the 1.1700 barrier and above on Thursday.

In spite of the current bounce, the very near-term outlook for the pair still looks fragile. If the upside gathers extra steam, then there are interim hurdles at the 10-day SMA at 1.1758 followed by the 1.1790/1.1800 region, where sits the 55- and 20-day SMAs along with a Fibo level (of the June-August drop).

A breakdown of the September low at 1.1683 would expose the 2021 low at 1.1663 recorded on August 20.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.1980.

EUR/USD daily chart


Today last price1.1718
Today Daily Change49
Today Daily Change %0.26
Today daily open1.1688
Daily SMA201.1799
Daily SMA501.179
Daily SMA1001.1916
Daily SMA2001.1985
Previous Daily High1.1756
Previous Daily Low1.1684
Previous Weekly High1.1846
Previous Weekly Low1.1724
Previous Monthly High1.19
Previous Monthly Low1.1664
Daily Fibonacci 38.2%1.1711
Daily Fibonacci 61.8%1.1728
Daily Pivot Point S11.1662
Daily Pivot Point S21.1637
Daily Pivot Point S31.1591
Daily Pivot Point R11.1734
Daily Pivot Point R21.1781
Daily Pivot Point R31.1806

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