#EURUSD @ 0.99313 -imp levels: reverses Tuesday’s gains and approaches 0.9900.

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• EUR/USD reverses Tuesday’s gains and approaches 0.9900.
• Losses below the 2022 low could extend to 0.9860.

The pair currently trades last at 0.99313.

The previous day high was 1.0018 while the previous day low was 0.9901. The daily 38.2% Fib levels comes at 0.9973, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9946, expected to provide resistance.

EUR/USD sees Tuesday’s bullish attempt rapidly eroded and refocuses instead on the lower end of the recent range near the 0.9900 area.

Further decline remains on the cards for the time being. That said, the breach of the 2022 low at 0.9899 (August 23) could sponsor a deeper pullback to the December 2002 low at 0.9859.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0838.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.9935 at the time of writing. Pair opened at 0.9969 and is trading with a change of -0.34 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 1.0173, 50 SMA 1.0258, 100 SMA @ 1.0458 and 200 SMA @ 1.0848.

The previous day high was 1.0018 while the previous day low was 0.9901. The daily 38.2% Fib levels comes at 0.9973, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9946, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9907, 0.9845, 0.9789
• Pivot resistance is noted at 1.0025, 1.008, 1.0142

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