EURUSD @ 1.01693 – Support/Resistance analysis: off lows, fails to recover 1.0200
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- US Dollar loses momentum during the American session amid risk appetite.
- EUR/USD turns positive after hitting the lowest level since August 3.
The pair currently trades last at 1.01693.
The previous day high was 1.0268 while the previous day low was 1.0155. The daily 38.2% Fib levels comes at 1.0198, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0225, expected to provide resistance.
The EUR/USD rose more than 50 pips from the weekly low it reached earlier at 1.0121. The euro printed a fresh daily high at 1.0194 and then pulled back modestly. The move higher was supported by a weaker dollar amid risk appetite.
The DXY is flat after erasing gains. The Index hit two-week highs near 107.00 and then dropped back toward 106.50. In Wall Street, the Dow Jones is up by 0.73% and the S&P 500 climbs 0.28%. US yields are modestly higher, keeping the dollar’s retreat limited. Economic data from the US came in mixed. Industrial Production rose above expectations in July (0.6% vs 0.3%) while Housing Starts tumbled 9.6%.
The EUR/USD found support above 1.0120/25, like last week. While above losses seem limited for the euro. The bias in the short-term still points to the downside with price under key moving averages in four hours and daily chats. The critical support level continues to be 1.0100 with a consolidation below exposing the parity.
On the upside, immediate resistance is seen at 1.0200 followed by 1.0215 (20-day Simple Moving Average) followed by 1.0270/80.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0176 at the time of writing. Pair opened at 1.0162 and is trading with a change of 0.14 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0176 |
| 1 | Today Daily Change | 0.0014 |
| 2 | Today Daily Change % | 0.1400 |
| 3 | Today daily open | 1.0162 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 1.0213, 50 SMA 1.0318, 100 SMA @ 1.0516 and 200 SMA @ 1.0889.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0213 |
| 1 | Daily SMA50 | 1.0318 |
| 2 | Daily SMA100 | 1.0516 |
| 3 | Daily SMA200 | 1.0889 |
The previous day high was 1.0268 while the previous day low was 1.0155. The daily 38.2% Fib levels comes at 1.0198, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0225, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.0122, 1.0081, 1.0008
- Pivot resistance is noted at 1.0236, 1.0309, 1.0349
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0268 |
| Previous Daily Low | 1.0155 |
| Previous Weekly High | 1.0369 |
| Previous Weekly Low | 1.0159 |
| Previous Monthly High | 1.0486 |
| Previous Monthly Low | 0.9952 |
| Daily Fibonacci 38.2% | 1.0198 |
| Daily Fibonacci 61.8% | 1.0225 |
| Daily Pivot Point S1 | 1.0122 |
| Daily Pivot Point S2 | 1.0081 |
| Daily Pivot Point S3 | 1.0008 |
| Daily Pivot Point R1 | 1.0236 |
| Daily Pivot Point R2 | 1.0309 |
| Daily Pivot Point R3 | 1.0349 |
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