#EURUSD @ 0.97163 attempts a mild recovery just above the 0.9700 barrier. (Pivot Orderbook analysis)

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• EUR/USD attempts a mild recovery just above the 0.9700 barrier.
• If bears push harder, the pair could see the 2022 low retested.

The pair currently trades last at 0.97163.

The previous day high was 0.9753 while the previous day low was 0.9682. The daily 38.2% Fib levels comes at 0.9709, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9726, expected to provide resistance.

EUR/USD finally sees some respite to the persistent decline and rebounds from lows near 0.9670 on Tuesday.

Despite the bounce, further losses remain well in the pipeline for the time being. That said, further weakness could drag the pair to revisit the 2022 low at 0.9535 (September 28) in the near term ahead of the round level at 0.9500.

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0600.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.9718 at the time of writing. Pair opened at 0.9702 and is trading with a change of 0.16 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.984, 50 SMA 0.9985, 100 SMA @ 1.0202 and 200 SMA @ 1.061.

The previous day high was 0.9753 while the previous day low was 0.9682. The daily 38.2% Fib levels comes at 0.9709, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9726, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9671, 0.9641, 0.96
• Pivot resistance is noted at 0.9743, 0.9784, 0.9814

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