EURUSD @ 1.01969 – Trading Levels analysis: Price Analysis: Treads water around 1.0200 inside weekly triangle

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EURUSD @ 1.01969 – Trading Levels analysis: Price Analysis: Treads water around 1.0200 inside weekly triangle

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• EUR/USD remains sidelined inside one-week-old symmetrical triangle, slowly pares Friday’s losses.
• 200-SMA, monthly horizontal support add to the trading filters.
• Steady RSI hints at further grinding, monthly peak appears last defense for bears.

The pair currently trades last at 1.01969.

The previous day high was 1.0222 while the previous day low was 1.0159. The daily 38.2% Fib levels comes at 1.0198, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0183, expected to provide support.

EUR/USD treads water around 1.0200 heading into Tuesday’s European session, keeping Monday’s mildly positive outlook amid sluggish markets.

However, a one-week-old symmetrical triangle restricts immediate EUR/USD moves amid steady RSI.

Other than the stated triangle’s extremes around 1.0225 and 1.0160, the 200-SMA and a horizontal area including multiple levels marked since July 13 will also challenge EUR/USD moves around 1.0250 and 1.0100-0095.

That said, the monthly peak near the 1.0300 psychological magnet and the 61.8% Fibonacci retracement of July 14 to August 02 upside, near 1.0080, are extra filters for trading the major currency pair.

It’s worth noting that the market’s indecision ahead of the US Consumer Price Index (CPI), up for publishing on Wednesday, also appears to challenge the EUR/USD pair traders. Even so, the recent increase in the hawkish Fed bets and the recently firmer US jobs report, keeps sellers hopeful.

Also read: EUR/USD Forecast: In wait-and-see mode ahead of US CPI

In that case, the parity level and the latest multi-month bottom surrounding 0.9950 should gain major attention.

Meanwhile, recovery moves remain elusive until cross June’s low near 1.0360.

Trend: Sideways

Technical Levels: Supports and Resistances

EURUSD currently trading at 1.0195 at the time of writing. Pair opened at 1.0196 and is trading with a change of -0.01% % .

The pair is trading above its 20 Daily moving average @ 1.0168, below its 50 Daily moving average @ 1.0364 , below its 100 Daily moving average @ 1.0554 and below its 200 Daily moving average @ 1.0922

The previous day high was 1.0222 while the previous day low was 1.0159. The daily 38.2% Fib levels comes at 1.0198, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0183, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 1.0163, 1.013, 1.0101
• Pivot resistance is noted at 1.0226, 1.0255, 1.0288

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