EUR/USD Price Analysis: The parity level offers tough support so far

 

---

• EUR/USD quickly breaches the 1.0200 region to multi-day lows.
• The continuation of the decline could expose another test of parity.

EUR/USD breaks below the prevailing consolidation and threatens to revisit the 1.0100 zone on Tuesday.

If the pair breaches the 1.0100 region, then the next support of note is seen at the parity level, which is expected to hold the downside ahead of a potential drop to the 2022 low at 0.9952 (July 14).

In the meantime, the pair is expected to remain under downside pressure while below the 5-month support line around 1.0490.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0984.

EUR/USD daily chart

EUR/USD

OVERVIEW
Today last price	1.0148
Today Daily Change	134
Today Daily Change %	-0.70
Today daily open	1.022

 

TRENDS
Daily SMA20	1.0228
Daily SMA50	1.0455
Daily SMA100	1.0634
Daily SMA200	1.0993

 

LEVELS
Previous Daily High	1.0258
Previous Daily Low	1.0178
Previous Weekly High	1.0278
Previous Weekly Low	1.0078
Previous Monthly High	1.0774
Previous Monthly Low	1.0359
Daily Fibonacci 38.2%	1.0228
Daily Fibonacci 61.8%	1.0209
Daily Pivot Point S1	1.018
Daily Pivot Point S2	1.0139
Daily Pivot Point S3	1.01
Daily Pivot Point R1	1.0259
Daily Pivot Point R2	1.0298
Daily Pivot Point R3	1.0339