#EURUSD @ 1.07160 leaves behind Tuesday’s pullback and retakes 1.0700 (Pivot Orderbook analysis)
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- EUR/USD leaves behind Tuesday’s pullback and retakes 1.0700
- The selling bias still dominates the sentiment around the pair.
The pair currently trades last at 1.07160.
The previous day high was 1.0733 while the previous day low was 1.0667. The daily 38.2% Fib levels comes at 1.0692, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0708, expected to provide support.
EUR/USD regains upside traction and moves beyond the key barrier at 1.0700 the figure on Wednesday.
The pair remains well under pressure despite the bullish move and the continuation of the selling bias should prompt a probable test of the May low at 1.0635 (May 31) to emerge on the horizon in the short term. 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 1.0481 (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 1.0510.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0718 at the time of writing. Pair opened at 1.0693 and is trading with a change of 0.23 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0718 |
| 1 | Today Daily Change | 52.0000 |
| 2 | Today Daily Change % | 0.2300 |
| 3 | Today daily open | 1.0693 |
The pair is trading below its 20 Daily moving average @ 1.0784, below its 50 Daily moving average @ 1.0892 , below its 100 Daily moving average @ 1.0811 and above its 200 Daily moving average @ 1.0509
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0784 |
| 1 | Daily SMA50 | 1.0892 |
| 2 | Daily SMA100 | 1.0811 |
| 3 | Daily SMA200 | 1.0509 |
The previous day high was 1.0733 while the previous day low was 1.0667. The daily 38.2% Fib levels comes at 1.0692, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0708, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 1.0662, 1.0632, 1.0596
- Pivot resistance is noted at 1.0728, 1.0763, 1.0794
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0733 |
| Previous Daily Low | 1.0667 |
| Previous Weekly High | 1.0779 |
| Previous Weekly Low | 1.0635 |
| Previous Monthly High | 1.1092 |
| Previous Monthly Low | 1.0635 |
| Daily Fibonacci 38.2% | 1.0692 |
| Daily Fibonacci 61.8% | 1.0708 |
| Daily Pivot Point S1 | 1.0662 |
| Daily Pivot Point S2 | 1.0632 |
| Daily Pivot Point S3 | 1.0596 |
| Daily Pivot Point R1 | 1.0728 |
| Daily Pivot Point R2 | 1.0763 |
| Daily Pivot Point R3 | 1.0794 |
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