#EURUSD @ 0.99681 comes under heavy pressure and drops near 0.9940. (Pivot Orderbook analysis)

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• EUR/USD comes under heavy pressure and drops near 0.9940.
• The loss of 0.9900 could accelerates losses to the YD low at 0.9863.

The pair currently trades last at 0.99681.

The previous day high was 1.0018 while the previous day low was 0.9956. The daily 38.2% Fib levels comes at 0.9994, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.998, expected to provide resistance.

EUR/USD reverses two consecutive daily gains and drops well south of the parity level on Friday.

The sudden slump in the pair now leaves the door open to extra weakness in the short-term horizon. Against that, a convincing breakdown of the 0.9900 level carries the potential to revisit the 20-year low at 0.9863 (September 6).

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0728.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.9964 at the time of writing. Pair opened at 1.0 and is trading with a change of -0.36 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9989, 50 SMA 1.0101, 100 SMA @ 1.0323 and 200 SMA @ 1.0737.

The previous day high was 1.0018 while the previous day low was 0.9956. The daily 38.2% Fib levels comes at 0.9994, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.998, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9965, 0.9929, 0.9903
• Pivot resistance is noted at 1.0027, 1.0053, 1.0089

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