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EUR/USD posts third daily loss in a row

FXStreet (Córdoba) - EUR/USD fell considerably throughout the day as the dollar benefited from the risk aversion environment amid lingering concerns over the global growth outlook and uncertainty over the timing of the Fed’s liftoff.

In the absence of major indicators or economic events, trading was driven by sentiment in a session that saw stocks falling deep in Europe and US.

EUR/USD broke below the 100-day SMA and bottomed out at 1.1112 during the American session before recovering somewhat. At time of writing, the pair is trading at 1.1135, recording a 0.47% loss on the day.

EUR/USD extended losses into a third day, pulling back from a high of 1.1459 following Fed decision to stay on hold last week.

EUR/USD levels to watch

In terms of technical levels, next supports are seen at 1.1112 (Sep 22 low), 1.1100 (psychological level) and 1.1086 (Sep 3 low). On the other hand, resistances could be faced at 1.1207/10 (Sep 22 high/200-day SMA), 1.1255 (21-day SMA) and 1.1300 (psychological level).

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