According to the @nehcap view, the EUR/USD currency pair, currently trading at 1.09361, is experiencing a decrease in buying interest, resulting in a new intraday low and the lowest level seen in the past week. It is predicted that there will be more potential for the price to decline further.
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- EUR/USD takes offers to refresh intraday low, drops to fresh low in one-week.
The pair currently trades last at 1.09361.
The previous day high was 1.1005 while the previous day low was 1.0943. The daily 38.2% Fib levels comes at 1.0967, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0981, expected to provide resistance.
EUR/USD prints a two-day losing streak while falling to the fresh one-week low around 1.0930 amid very early Monday morning in Europe.
In doing so, the Euro pair extends the previous week’s U-turn from the support-turned-resistance line stretched from late May towards breaking a short-term key support line and the 100-DMA. Adding strength to the downside bias are the bearish MACD signals and the market’s risk-off mood, not to forget the firmer US Treasury bond yields.
Also read: EUR/USD sellers attack 1.0930 support on firmer yields, downbeat ECB concerns, focus on Fed Minutes
That said, a daily closing beneath the 100-DMA support of 1.0930 becomes necessary for the EUR/USD bears to prod the monthly low of around 1.0910.
Also acting as a downside filter is the 61.8% Fibonacci retracement of May-July upside, near 1.0880, as well as the previous monthly bottom surrounding 1.0835.
Meanwhile, a daily closing beyond the ascending support line from July 06 can again try to cross the multi-day-old previous support line, close to 1.1040 at the latest.
Following that, the monthly peak of around 1.1065 and the 1.1100 round figure may prod the Euro buyers before directing them to the yearly peak marked in July around 1.1275.
Trend: Further downside expected
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0937 at the time of writing. Pair opened at 1.0946 and is trading with a change of -0.08% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0937 |
| 1 | Today Daily Change | -0.0009 |
| 2 | Today Daily Change % | -0.08% |
| 3 | Today daily open | 1.0946 |
The pair is trading below its 20 Daily moving average @ 1.1043, below its 50 Daily moving average @ 1.0962 , above its 100 Daily moving average @ 1.0929 and above its 200 Daily moving average @ 1.0772
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.1043 |
| 1 | Daily SMA50 | 1.0962 |
| 2 | Daily SMA100 | 1.0929 |
| 3 | Daily SMA200 | 1.0772 |
The previous day high was 1.1005 while the previous day low was 1.0943. The daily 38.2% Fib levels comes at 1.0967, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0981, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.0924, 1.0903, 1.0862
- Pivot resistance is noted at 1.0986, 1.1027, 1.1049
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.1005 |
| Previous Daily Low | 1.0943 |
| Previous Weekly High | 1.1065 |
| Previous Weekly Low | 1.0929 |
| Previous Monthly High | 1.1276 |
| Previous Monthly Low | 1.0834 |
| Daily Fibonacci 38.2% | 1.0967 |
| Daily Fibonacci 61.8% | 1.0981 |
| Daily Pivot Point S1 | 1.0924 |
| Daily Pivot Point S2 | 1.0903 |
| Daily Pivot Point S3 | 1.0862 |
| Daily Pivot Point R1 | 1.0986 |
| Daily Pivot Point R2 | 1.1027 |
| Daily Pivot Point R3 | 1.1049 |
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