#EURUSD @ 1.00837 -imp levels: US Dollar rises across the board during the American session.
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- US Dollar rises across the board during the American session.
- EUR/USD under pressure, testing critical support.
- Break under 1.0100 could trigger a test of parity.
The pair currently trades last at 1.00837.
The previous day high was 1.0203 while the previous day low was 1.0146. The daily 38.2% Fib levels comes at 1.0181, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0167, expected to provide resistance.
The EUR/USD dropped sharply during the American session and hit a low of 1.0107, the lowest level since July 27. It remains near the lows, under pressure amid a stronger US dollar across the board.
The greenback strengthened even as US yields remained steady and also as stocks in Wall Street sideways. The DXY is up 0.55%, at monthly highs near 107.30.
Regarding economic data, the weekly report showed Initial Jobless Claims declined to 250K, below market consensus; the Philly Fed jumped to 6.2 in August from -12.3, also surpassing expectations. On the negative front, Existing Home Sales tumbled to 4.81M, posting the sixth monthly decline in a row.
The EUR/USD is facing increasing bearish pressure and is near a critical support at 1.0110. A break below 1.0100 would expose the parity level, ending with weeks of a range. The bearish pressure in the short-term will likely persist while under 1.0135.
The euro needs to recover 1.0135 to avoid more losses. The next resistance stands at 1.0160 followed by the strong barrier near 1.0200.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0111 at the time of writing. Pair opened at 1.018 and is trading with a change of -0.68 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0111 |
| 1 | Today Daily Change | -0.0069 |
| 2 | Today Daily Change % | -0.6800 |
| 3 | Today daily open | 1.0180 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 1.0211, 50 SMA 1.0297, 100 SMA @ 1.0498 and 200 SMA @ 1.0875.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0211 |
| 1 | Daily SMA50 | 1.0297 |
| 2 | Daily SMA100 | 1.0498 |
| 3 | Daily SMA200 | 1.0875 |
The previous day high was 1.0203 while the previous day low was 1.0146. The daily 38.2% Fib levels comes at 1.0181, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0167, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.015, 1.0119, 1.0092
- Pivot resistance is noted at 1.0207, 1.0234, 1.0265
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0203 |
| Previous Daily Low | 1.0146 |
| Previous Weekly High | 1.0369 |
| Previous Weekly Low | 1.0159 |
| Previous Monthly High | 1.0486 |
| Previous Monthly Low | 0.9952 |
| Daily Fibonacci 38.2% | 1.0181 |
| Daily Fibonacci 61.8% | 1.0167 |
| Daily Pivot Point S1 | 1.0150 |
| Daily Pivot Point S2 | 1.0119 |
| Daily Pivot Point S3 | 1.0092 |
| Daily Pivot Point R1 | 1.0207 |
| Daily Pivot Point R2 | 1.0234 |
| Daily Pivot Point R3 | 1.0265 |
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