#EURUSD @ 0.97764 extends the corrective downside to the mid-0.9500s. (Pivot Orderbook analysis)
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- EUR/USD extends the corrective downside to the mid-0.9500s.
- A deeper move could see the 2022 low at 0.9535 revisited.
The pair currently trades last at 0.97764.
The previous day high was 0.9854 while the previous day low was 0.9734. The daily 38.2% Fib levels comes at 0.978, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9808, expected to provide resistance.
EUR/USD faces extra selling pressure and breaks below the 0.9800 mark to drop to the 0.9750 region on Monday.
Odds for extra weakness in the European currency remain well in store so far, with the immediate target at the 2022 low at 0.9535 (September 28). The loss of the latter should pave the way for a visit to the round level at 0.9500 prior to the weekly low at 0.9411 (June 17 2002).
In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0645.
Technical Levels: Supports and Resistances
EURUSD currently trading at 0.9766 at the time of writing. Pair opened at 0.9802 and is trading with a change of -0.37 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.9766 |
| 1 | Today Daily Change | 82.0000 |
| 2 | Today Daily Change % | -0.3700 |
| 3 | Today daily open | 0.9802 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9894, 50 SMA 1.0031, 100 SMA @ 1.0245 and 200 SMA @ 1.0655.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.9894 |
| 1 | Daily SMA50 | 1.0031 |
| 2 | Daily SMA100 | 1.0245 |
| 3 | Daily SMA200 | 1.0655 |
The previous day high was 0.9854 while the previous day low was 0.9734. The daily 38.2% Fib levels comes at 0.978, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9808, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.974, 0.9677, 0.962
- Pivot resistance is noted at 0.9859, 0.9916, 0.9978
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.9854 |
| Previous Daily Low | 0.9734 |
| Previous Weekly High | 0.9854 |
| Previous Weekly Low | 0.9536 |
| Previous Monthly High | 1.0198 |
| Previous Monthly Low | 0.9536 |
| Daily Fibonacci 38.2% | 0.9780 |
| Daily Fibonacci 61.8% | 0.9808 |
| Daily Pivot Point S1 | 0.9740 |
| Daily Pivot Point S2 | 0.9677 |
| Daily Pivot Point S3 | 0.9620 |
| Daily Pivot Point R1 | 0.9859 |
| Daily Pivot Point R2 | 0.9916 |
| Daily Pivot Point R3 | 0.9978 |
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