The EURUSD currency pair, which was initially at 1.09444, decreases to 1.0912 but then recovers before falling below 1.0900. It is currently being traded at 1.0942, showing a slight increase of 0.04% on Thursday.

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• EUR/USD falls to 1.0912 but rebounds before breaching 1.0900, trading at 1.0942 with a slight gain of 0.04% on Thursday.

The pair currently trades last at 1.09444.

The previous day high was 1.102 while the previous day low was 1.0918. The daily 38.2% Fib levels comes at 1.0957, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0981, expected to provide resistance.

The EUR/USD fell to a one-month-low of 1.0912 but bounced before breaching below the 1.0900 figure and is gaining traction, as the major gains 0.04% on Thursday. Hence, the EUR/USD is trading at 1.0942, about to form a doji, which depicts indecision among buyers and sellers.

It should be said the EUR/USD dropped below the 50-day Exponential Moving Average (EMA) at 1.0871, suggesting the pair is accelerating its downtrend, but the 100-day EMA at 1.0894 capped the EUR/USD’s fall to test the July 6 swing low of 1.0833. Despite the fact that the EUR/USD’s scenario is turning bearish, the pair might consolidate within the 1.0900/1.1000 area, as a downslope trendline passes around 1.1000, while the 100-day EMA could cushion the EUR/USD around 1.0900.

However, if EUR/USD extends its losses past the latter, the 100-day EMA around 1.0894 would be tested. A breach of the latter would immediately expose the July 6 low at 1.0833, followed by the 1.0800 figure, ahead of the 200-day EMA.

Conversely, if the EUR/USD reclaims the 50-day EMA at 1.0971, the 1,1000 figure would be up for grabs. Break above would set the stage to test the 29-day EMA at 1.1020, followed by the 1.1100 mark.

Oscillator-wise, the Relative Strength Index (RSI) remains in bearish territory, but its slope is almost turning neutral. The three-day Rate of Change (RoC) portrays a positive divergence, as the RoC aims upward, while EUR/USD’s price action extends its losses. Nevertheless, a doji emerging at around 1.0900 could signal buyers to enter the market.

Technical Levels: Supports and Resistances

EURUSD currently trading at 1.0942 at the time of writing. Pair opened at 1.0938 and is trading with a change of 0.04 % .

The pair is trading below its 20 Daily moving average @ 1.1074, above its 50 Daily moving average @ 1.0926 , above its 100 Daily moving average @ 1.0913 and above its 200 Daily moving average @ 1.0734

The previous day high was 1.102 while the previous day low was 1.0918. The daily 38.2% Fib levels comes at 1.0957, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0981, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 1.0898, 1.0857, 1.0796
• Pivot resistance is noted at 1.1, 1.1061, 1.1102

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