#EURUSD @ 1.00546 -imp levels: extends the decline to the 1.0050/45 band.

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• EUR/USD extends the decline to the 1.0050/45 band.
• Next on the downside appears a potential test of the parity zone.

The pair currently trades last at 1.00546.

The previous day high was 1.0193 while the previous day low was 1.008. The daily 38.2% Fib levels comes at 1.0123, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.015, expected to provide resistance.

EUR/USD adds to the recent weakness and extends the breach of the 1.0100 level at the end of the week.

Further losses appear on the cards as well as a probable visit to the parity level in the short-term horizon. The loss of this key support zone could expose a deeper retracement to the YTD low at 0.9952 (July 14).

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0859.

Technical Levels: Supports and Resistances

EURUSD currently trading at 1.0066 at the time of writing. Pair opened at 1.0089 and is trading with a change of -0.23 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 1.0203, 50 SMA 1.0286, 100 SMA @ 1.0488 and 200 SMA @ 1.0868.

The previous day high was 1.0193 while the previous day low was 1.008. The daily 38.2% Fib levels comes at 1.0123, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.015, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 1.0048, 1.0007, 0.9935
• Pivot resistance is noted at 1.0162, 1.0234, 1.0275

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