The EURUSD pair remains stable at a rate of 1.08062, as the European Central Bank’s endorsement of a more aggressive approach provides support.
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- EUR/USD holds ground due to the ECB’s support of a hawkish stance.
The pair currently trades last at 1.08062.
The previous day high was 1.0842 while the previous day low was 1.0766. The daily 38.2% Fib levels comes at 1.0795, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0813, expected to provide resistance.
EUR/USD hovers above 1.0800 psychological level during the Asian session on Monday. The pair experiences upward pressure due to European Central Bank’s (ECB) policymakers defending their hawkish stance at the Jackson Hole Symposium.
ECB President Christine Lagarde highlighted the importance of establishing interest rates at a sufficiently restrictive level for a prolonged period to ensure the prompt attainment of the 2% medium-term inflation objective.
The pair could meet the immediate support around the previous week’s low at 1.0765, followed by the 1.0750 psychological level.
On the upside, the nine-day Exponential Moving Average (EMA) at 1.0847 appears to be the key resistance. A break above that level could support the EUR/USD pair to explore the area around the 14-day EMA at 1.0874 level, followed by the 1.0900 psychological level.
The 14-day Relative Strength Index (RSI) remains below 50, which suggests a bearish bias of the EUR/USD traders. The Moving Average Convergence Divergence (MACD) line stays below the centerline and shows divergence below the signal line, which suggests that recent momentum is weaker.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0806 at the time of writing. Pair opened at 1.0796 and is trading with a change of 0.09 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0806 |
| 1 | Today Daily Change | 0.0010 |
| 2 | Today Daily Change % | 0.0900 |
| 3 | Today daily open | 1.0796 |
The pair is trading below its 20 Daily moving average @ 1.0919, below its 50 Daily moving average @ 1.0977 , below its 100 Daily moving average @ 1.0928 and above its 200 Daily moving average @ 1.0804
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0919 |
| 1 | Daily SMA50 | 1.0977 |
| 2 | Daily SMA100 | 1.0928 |
| 3 | Daily SMA200 | 1.0804 |
The previous day high was 1.0842 while the previous day low was 1.0766. The daily 38.2% Fib levels comes at 1.0795, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0813, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.0761, 1.0725, 1.0685
- Pivot resistance is noted at 1.0836, 1.0877, 1.0912
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0842 |
| Previous Daily Low | 1.0766 |
| Previous Weekly High | 1.0930 |
| Previous Weekly Low | 1.0766 |
| Previous Monthly High | 1.1276 |
| Previous Monthly Low | 1.0834 |
| Daily Fibonacci 38.2% | 1.0795 |
| Daily Fibonacci 61.8% | 1.0813 |
| Daily Pivot Point S1 | 1.0761 |
| Daily Pivot Point S2 | 1.0725 |
| Daily Pivot Point S3 | 1.0685 |
| Daily Pivot Point R1 | 1.0836 |
| Daily Pivot Point R2 | 1.0877 |
| Daily Pivot Point R3 | 1.0912 |
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