#EURUSD @ 0.99324 fades the initial bull run to 0.9985/90. (Pivot Orderbook analysis)
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- EUR/USD fades the initial bull run to 0.9985/90.
- The resumption of the selling pressure could retest the YTD low.
The pair currently trades last at 0.99324.
The previous day high was 0.9953 while the previous day low was 0.9878. The daily 38.2% Fib levels comes at 0.9907, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9924, expected to provide support.
EUR/USD climbed to the proximity of 0.9990 earlier in the session, just to deflate afterwards and return to the 0.9930 region.
Against that, the inability of the pair to regain serious upside traction should keep the door to further retracement open in the near term. Extra losses face the immediate target at the 2022 low at 0.9877 (September 5) seconded by 0.9859 (December 2002 low) and then 0.9685 (October 2002 low).
The continuation of the downtrend remains in the pipeline, as the daily RSI around 36 still allows for some weakness prior to reach the oversold territory.
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0780.
Technical Levels: Supports and Resistances
EURUSD currently trading at 0.9933 at the time of writing. Pair opened at 0.9927 and is trading with a change of 0.06 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.9933 |
| 1 | Today Daily Change | 65.0000 |
| 2 | Today Daily Change % | 0.0600 |
| 3 | Today daily open | 0.9927 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 1.0072, 50 SMA 1.0159, 100 SMA @ 1.0379 and 200 SMA @ 1.0789.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0072 |
| 1 | Daily SMA50 | 1.0159 |
| 2 | Daily SMA100 | 1.0379 |
| 3 | Daily SMA200 | 1.0789 |
The previous day high was 0.9953 while the previous day low was 0.9878. The daily 38.2% Fib levels comes at 0.9907, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9924, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.9886, 0.9845, 0.9811
- Pivot resistance is noted at 0.9961, 0.9994, 1.0035
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.9953 |
| Previous Daily Low | 0.9878 |
| Previous Weekly High | 1.0079 |
| Previous Weekly Low | 0.9911 |
| Previous Monthly High | 1.0369 |
| Previous Monthly Low | 0.9901 |
| Daily Fibonacci 38.2% | 0.9907 |
| Daily Fibonacci 61.8% | 0.9924 |
| Daily Pivot Point S1 | 0.9886 |
| Daily Pivot Point S2 | 0.9845 |
| Daily Pivot Point S3 | 0.9811 |
| Daily Pivot Point R1 | 0.9961 |
| Daily Pivot Point R2 | 0.9994 |
| Daily Pivot Point R3 | 1.0035 |
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