#EURUSD @ 1.06794 resumes the downside following Friday’s tops. (Pivot Orderbook analysis)
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- EUR/USD resumes the downside following Friday’s tops.
- A deeper correction could revisit the 1.0630 zone.
The pair currently trades last at 1.06794.
The previous day high was 1.0779 while the previous day low was 1.0705. The daily 38.2% Fib levels comes at 1.0733, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0751, expected to provide resistance.
EUR/USD adds to Friday’s marked pullback and drops to the 1.0680 area on Monday.
The pair remains well under pressure and the continuation of the selling bias should put a potential test of the May low at 1.0635 (May 31) back on the radar in the short-term horizon. If spot clears the 1.0600 support it could then open the door to a deeper decline to the March low at 1.0516 (March 15).
A deeper pullback to the 2023 low at 1.0496 (January 6) would likely need a sharp deterioration of the outlook, which appears not favoured for the time being.
Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0503.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0684 at the time of writing. Pair opened at 1.0708 and is trading with a change of -0.22 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0684 |
| 1 | Today Daily Change | 31.0000 |
| 2 | Today Daily Change % | -0.2200 |
| 3 | Today daily open | 1.0708 |
The pair is trading below its 20 Daily moving average @ 1.0813, below its 50 Daily moving average @ 1.0897 , below its 100 Daily moving average @ 1.0813 and above its 200 Daily moving average @ 1.0502
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0813 |
| 1 | Daily SMA50 | 1.0897 |
| 2 | Daily SMA100 | 1.0813 |
| 3 | Daily SMA200 | 1.0502 |
The previous day high was 1.0779 while the previous day low was 1.0705. The daily 38.2% Fib levels comes at 1.0733, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0751, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.0682, 1.0657, 1.0609
- Pivot resistance is noted at 1.0756, 1.0804, 1.083
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0779 |
| Previous Daily Low | 1.0705 |
| Previous Weekly High | 1.0779 |
| Previous Weekly Low | 1.0635 |
| Previous Monthly High | 1.1092 |
| Previous Monthly Low | 1.0635 |
| Daily Fibonacci 38.2% | 1.0733 |
| Daily Fibonacci 61.8% | 1.0751 |
| Daily Pivot Point S1 | 1.0682 |
| Daily Pivot Point S2 | 1.0657 |
| Daily Pivot Point S3 | 1.0609 |
| Daily Pivot Point R1 | 1.0756 |
| Daily Pivot Point R2 | 1.0804 |
| Daily Pivot Point R3 | 1.0830 |
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