EUR/USD Price Analysis: Decent contention appears around 0.9700

EUR/USD triggers a knee-jerk after failing to surpass 0.9900.
There is initial support around the 0.9700 region so far.

Pablo Piovano FXStreet

EUR/USD corrects lower and approaches 0.9800 after two consecutive daily advances at the beginning of the week.

In case losses accelerate, the pair should face the initial contention at last week’s lows near the 0.9700 yardstick (October 21). If cleared, then the October low at 0.9631 (October 13) could emerge on the horizon.

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0529.

EUR/USD daily chart

EUR/USD

Overview
Today last price	0.9821
Today Daily Change	93
Today Daily Change %	-0.42
Today daily open	0.9862

Trends
Daily SMA20	0.9775
Daily SMA50	0.9905
Daily SMA100	1.0117
Daily SMA200	1.0539

Levels
Previous Daily High	0.9869
Previous Daily Low	0.9705
Previous Weekly High	0.9876
Previous Weekly Low	0.9705
Previous Monthly High	1.0198
Previous Monthly Low	0.9536
Daily Fibonacci 38.2%	0.9807
Daily Fibonacci 61.8%	0.9768
Daily Pivot Point S1	0.9755
Daily Pivot Point S2	0.9648
Daily Pivot Point S3	0.9591
Daily Pivot Point R1	0.9919
Daily Pivot Point R2	0.9976
Daily Pivot Point R3	1.0083

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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