EUR/USD Price Analysis: Solid support lies around 0.9900

• EUR/USD sees its rebound trimmed and returns to sub-parity levels.
• Firm contention is expected near the 0.9900 zone.

EUR/USD comes under renewed and marked downside pressure, slipping back below the key parity zone on Thursday.

Further consolidation looks the most likely scenario in EUR/USD for the time being, always within the 1.0100-0.9900 range. The pair is expected to keep this theme unchanged in the next hours, or at least until the key publication of US Nonfarm Payrolls (Friday).

The breakout of the weekly high at 1.0090 (August 26) could spark further gains to 1.0202 (August17 high) ahead of the 55-day SMA, today at 1.0213. Alternatively, the 0.9900 neighbourhood is expected to hold the bearish impulse for the time being.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0801.

EUR/USD daily chart