#EURUSD @ 1.05460 extends the Powell-led steep drop to the 1.0520 region. (Pivot Orderbook analysis)
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- EUR/USD extends the Powell-led steep drop to the 1.0520 region.
- Immediately to the downside now emerges the YTD low near 1.0480.
The pair currently trades last at 1.05460.
The previous day high was 1.0694 while the previous day low was 1.0546. The daily 38.2% Fib levels comes at 1.0603, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0638, expected to provide resistance.
EUR/USD adds to Tuesday’s intense sell-off and hits new 2-month lows in the 1.0525/20 and on Wednesday.
The continuation of the selling pressure could force the pair to challenge the 2023 low at 1.0481 (January 6) ahead of the minor support at 1.0443 (weekly low December 7 2022).
Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0325.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0543 at the time of writing. Pair opened at 1.0551 and is trading with a change of -0.08 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0543 |
| 1 | Today Daily Change | 30.0000 |
| 2 | Today Daily Change % | -0.0800 |
| 3 | Today daily open | 1.0551 |
The pair is trading below its 20 Daily moving average @ 1.0652, below its 50 Daily moving average @ 1.0726 , above its 100 Daily moving average @ 1.0511 and above its 200 Daily moving average @ 1.0327
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0652 |
| 1 | Daily SMA50 | 1.0726 |
| 2 | Daily SMA100 | 1.0511 |
| 3 | Daily SMA200 | 1.0327 |
The previous day high was 1.0694 while the previous day low was 1.0546. The daily 38.2% Fib levels comes at 1.0603, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0638, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.05, 1.0449, 1.0351
- Pivot resistance is noted at 1.0648, 1.0746, 1.0797
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0694 |
| Previous Daily Low | 1.0546 |
| Previous Weekly High | 1.0692 |
| Previous Weekly Low | 1.0533 |
| Previous Monthly High | 1.1033 |
| Previous Monthly Low | 1.0533 |
| Daily Fibonacci 38.2% | 1.0603 |
| Daily Fibonacci 61.8% | 1.0638 |
| Daily Pivot Point S1 | 1.0500 |
| Daily Pivot Point S2 | 1.0449 |
| Daily Pivot Point S3 | 1.0351 |
| Daily Pivot Point R1 | 1.0648 |
| Daily Pivot Point R2 | 1.0746 |
| Daily Pivot Point R3 | 1.0797 |
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