#EURUSD @ 0.99225 -imp levels: clocks new cycle lows in the sub-0.9900 zone.

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• EUR/USD clocks new cycle lows in the sub-0.9900 zone.
• Further losses could test the December 2002 low near 0.9860.

The pair currently trades last at 0.99225.

The previous day high was 1.0047 while the previous day low was 0.9926. The daily 38.2% Fib levels comes at 0.9972, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0001, expected to provide resistance.

EUR/USD accelerates the daily losses and briefly breaks below the 0.9900 level, or new cycle lows.

Further weakness remains in the pipeline for the time being. Against that, the breakdown of the 2022 low at 0.9899 (August 23) should leave the door open to a probable deeper retracement 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 1.0845.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.992 at the time of writing. Pair opened at 0.9944 and is trading with a change of -0.24 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 1.0181, 50 SMA 1.0267, 100 SMA @ 1.0467 and 200 SMA @ 1.0854.

The previous day high was 1.0047 while the previous day low was 0.9926. The daily 38.2% Fib levels comes at 0.9972, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0001, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9898, 0.9852, 0.9777
• Pivot resistance is noted at 1.0018, 1.0093, 1.0139

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