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EUR/USD Price Forecast: Bears crack 100-day SMA, eye 1.1500

· FXStreet

  • EUR/USD breaks 100-day SMA as sellers regain momentum.
  • Bearish RSI points lower while the 50-day SMA guards the downside.
  • Break below 1.1500 exposes 1.1450 and 1.1353 next.

The Euro (EUR) extends its losses against the US Dollar (USD) on Tuesday, sliding below the 100-day Simple Moving Average (SMA) at 1.1555, opening the door to further downside, with sellers setting their sights on Monday’s low of 1.1523. The EUR/USD trades at 1.1548, slightly above the 50-day SMA of 1.1530.

EUR/USD Price Forecast: Technical Outlook

The pair seems poised to consolidate in the short term, finding support at the 50-day SMA, but the rally was capped by the 100-day SMA. Momentum, as measured by the Relative Strength Index (RSI), is bearish and trending lower, indicating that sellers are strengthening.

If EUR/USD dives below the 50-day SMA, it could challenge 1.1500. A breach of the latter would expose the 1.1450 psychological milestone and the July 28 swing low at 1.1353. On further weakness, the year-to-date low is up next at 1.1324.

On the other hand, for EUR/USD to recover, buyers must reclaim the 100-day SMA at 1.1555. On further strength, the next area of interest is 1.1600, immediately followed by the 200-day SMA at 1.1632 and by 1.1650.

EUR/USD Price Chart – Daily

Euro Price Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen.

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

(This story was corrected on September 15 at 20:39 GMT to say that 1.1324 is the EUR/USD year-to-date high, not the year-to-date low.)

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