EUR/USD Price Analysis: Outlook remains bearish below the 200-day SMA

EUR/USD adds to Wednesday’s recovery attempt past 1.0500.
Immediate resistance emerges around 1.0620.

Pablo Piovano FXStreet

EUR/USD keeps the bid bias unchanged and adds to Wednesday’s advance north of 1.0500 the figure on Thursday.

The continuation of the rebound should initially retarget the minor barrier at 1.0617 (September 29) ahead of the weekly peak of 1.0767 (September 12).

Meanwhile, further losses remain on the table as long as the pair navigates the area below the key 200-day SMA, today at 1.0824.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0512
Today Daily Change	30
Today Daily Change %	0.08
Today daily open	1.0504

Trends
Daily SMA20	1.0626
Daily SMA50	1.0788
Daily SMA100	1.0847
Daily SMA200	1.0827

Levels
Previous Daily High	1.0532
Previous Daily Low	1.0451
Previous Weekly High	1.0656
Previous Weekly Low	1.0488
Previous Monthly High	1.0882
Previous Monthly Low	1.0488
Daily Fibonacci 38.2%	1.0501
Daily Fibonacci 61.8%	1.0482
Daily Pivot Point S1	1.046
Daily Pivot Point S2	1.0415
Daily Pivot Point S3	1.0379
Daily Pivot Point R1	1.0541
Daily Pivot Point R2	1.0577
Daily Pivot Point R3	1.0622

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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