EUR/USD Price Analysis: Corrective downside could test 1.2200

EUR/USD recedes to 2-day lows in the 1.2250/45 band.
Extra losses could test the 21-day SMA in the 1.2200 area.

Pablo Piovano FXStreet

EUR/USD gives away part of the recent advance beyond 1.23 the figure and retreats to the mid-1.2200s against the backdrop of the so far moderate recovery in the greenback.

Against this, EUR/USD now risks a probable move to the 21-day SMA just above 1.2200, while a deeper pullback could see the weekly low at 1.2129 (December 21) re-visited in the short-term horizon.

In the meantime, extra gains in EUR/USD are likely while above the critical 200-day SMA, today at 1.1557.

Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should underpin the continuation of the current trend.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2255
Today Daily Change	99
Today Daily Change %	-0.56
Today daily open	1.2324

Trends
Daily SMA20	1.2213
Daily SMA50	1.2018
Daily SMA100	1.1905
Daily SMA200	1.1565

Levels
Previous Daily High	1.235
Previous Daily Low	1.2266
Previous Weekly High	1.231
Previous Weekly Low	1.2181
Previous Monthly High	1.231
Previous Monthly Low	1.1924
Daily Fibonacci 38.2%	1.2317
Daily Fibonacci 61.8%	1.2298
Daily Pivot Point S1	1.2277
Daily Pivot Point S2	1.2229
Daily Pivot Point S3	1.2193
Daily Pivot Point R1	1.236
Daily Pivot Point R2	1.2397
Daily Pivot Point R3	1.2444

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.

GBP/USD revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold challenges its 200-day SMA near $4,530

Gold’s decline gathers fresh steam, hitting weekly lows while disputing its critical 200-day SMA near $4,530 per troy ounce. The yellow metal’s increasing weakness comes in response to the generalised upbeat tone in the US Dollar and the widespread rebound in US Treasury yields, as investors continue to reprice a Fed rate hike in September.

Crypto Today: Bitcoin, Ethereum, XRP rally loses steam despite steady ETF inflows

Bitcoin is back below $80,000 at the time of writing on Friday, after a second attempt at breaking resistance between $81,000 and $82,000. Meanwhile, Ethereum and Ripple mirror Bitcoin’s cooling trend, with ETH sliding to $2,500 and XRP falling toward $1.40 support.

Week ahead – RBNZ and BoC decide on rates ahead of all-important US NFP

Dollar rebounds ahead of ISM PMI and NFP data. RBNZ is expected to raise rates; focus to fall on forward guidance. BoC is set to remain on hold; will it raise rates in 2027?

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.