#EURUSD @ 0.99693 -imp levels: loses upside momentum after climbing to 1.0030.

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• EUR/USD loses upside momentum after climbing to 1.0030.
• Another test of the 0.9900 region appears well on the cards.

The pair currently trades last at 0.99693.

The previous day high was 0.9999 while the previous day low was 0.991. The daily 38.2% Fib levels comes at 0.9944, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9965, expected to provide support.

EUR/USD quickly fades the earlier uptick to the area north of the parity level, or new 3-day highs.

The lack of conviction of the earlier bullish attempt leaves the door open to the resumption of the downtrend. Against that, another visit to cycle lows around 0.9900 remains in store in the not-so-distant future. A drop below 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 1.0832.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.9973 at the time of writing. Pair opened at 0.9968 and is trading with a change of 0.05 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 1.0161, 50 SMA 1.0249, 100 SMA @ 1.0449 and 200 SMA @ 1.0841.

The previous day high was 0.9999 while the previous day low was 0.991. The daily 38.2% Fib levels comes at 0.9944, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9965, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.9919, 0.987, 0.983
• Pivot resistance is noted at 1.0008, 1.0048, 1.0096

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