EURUSD adds to the weekly decline below the parity level. (Pivot Orderbook analysis)

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• EURUSD adds to the weekly decline below the parity level.
• The continuation of the downside could see the 55-day SMA retested.

The pair currently trades last at 0.9944.

The previous day high was 1.0088 while the previous day low was 0.9993. The daily 38.2% Fib levels comes at 1.0029, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0052, expected to provide resistance.

EURUSD retreats for the second consecutive session and breaches the key parity mark on Thursday.

If spot accelerates losses, it could then challenge the 55-day SMA, today at 0.9888, prior to another visit to the 9-month support line around 0.9840. Below the latter, the pair could see the near-term bearish outlook reinstated.

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0442.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.9944 at the time of writing. Pair opened at 1.001 and is trading with a change of -0.66 % .

The pair is trading above its 20 Daily moving average @ 0.9893, above its 50 Daily moving average @ 0.9879 , below its 100 Daily moving average @ 1.0037 and below its 200 Daily moving average @ 1.0452

The previous day high was 1.0088 while the previous day low was 0.9993. The daily 38.2% Fib levels comes at 1.0029, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0052, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9973, 0.9935, 0.9877
• Pivot resistance is noted at 1.0068, 1.0126, 1.0163

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