#EURUSD @ 1.02829 EURUSD is looking for an establishment below 1.0300 as risk-off sentiment has escalated. (Pivot Orderbook analysis)

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• EURUSD is looking for an establishment below 1.0300 as risk-off sentiment has escalated.
• The DXY has crossed a two-day high of around 107.24 as investors have hidden behind safe-haven assets.
• As per the consensus, the Eurozone Consumer Confidence will improve to -26

The pair currently trades last at 1.02829.

The previous day high was 1.0396 while the previous day low was 1.032. The daily 38.2% Fib levels comes at 1.0349, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0367, expected to provide resistance.

.The EURUSD pair has witnessed a steep fall after dropping below the immediate support of 1.3134 in the Tokyo session. The asset has slipped below the round-level support of 1.0300 and is now facing barricades around the same. A significant decline in the risk appetite of investors is impacting risk-sensitive assets.

S&P500 futures have sensed selling pressure in early trade after failing to carry-forward positive sentiment witnessed on Friday. Meanwhile, the US dollar index (DXY) is has overstepped a two-day high of around 107.24. A rebound in the risk-off profile is appealing for safe-haven assets. However, the returns on US government bonds have continued their downside journey. The long-term US Treasury yields have dropped to nearly 3.79% as chances for 75 basis points (bps) rate hike by the Federal Reserve (Fed) are not appealing anymore.

Also, Atlanta Fed President Raphael Bostic cited that the central bank is ready to “move away” from three-quarter-point rate hikes at the Fed’s December meeting, reported Reuters. He further added that Fed’s target policy rate will add no more than another percentage point to tackle inflation. After that, the Fed would need to pause and “let the economic dynamics play out,” given that it may take what he estimates as anywhere from 12 to 24 months for the impact of Fed rate increases to be “fully realized.”

On the Eurozone front, investors are awaiting the release of the Eurozone Consumer Confidence, which is due on Tuesday. As per the consensus, the economic data will improve to -26.0 vs. the prior release of -27.6. This might support the shared currency bulls ahead.

Technical Levels: Supports and Resistances

EURUSD currently trading at 1.0282 at the time of writing. Pair opened at 1.0325 and is trading with a change of -0.42 % .

The pair is trading above its 20 Daily moving average @ 1.0079, above its 50 Daily moving average @ 0.9931 , above its 100 Daily moving average @ 1.0025 and below its 200 Daily moving average @ 1.0414

The previous day high was 1.0396 while the previous day low was 1.032. The daily 38.2% Fib levels comes at 1.0349, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0367, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 1.0298, 1.0271, 1.0222
• Pivot resistance is noted at 1.0374, 1.0423, 1.045

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