The EURUSD currency pair bounces back from its lowest point in eight months around 1.0490, trading at 1.05496.
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- EUR/USD rebounds from new eight-month lows around 1.0490.
The pair currently trades last at 1.05496.
The previous day high was 1.0575 while the previous day low was 1.0488. The daily 38.2% Fib levels comes at 1.0521, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0542, expected to provide support.
EUR/USD manages to regain some pace soon after hitting fresh multi-month lows in the 1.0490 region on Thursday.
The continuation of the downward bias should leave the pair vulnerable to further losses with the immediate target at the 2023 low at 1.0481 (January 6).
While below the key 200-day SMA at 1.0827, the pair is likely to face extra weakness.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0538 at the time of writing. Pair opened at 1.0503 and is trading with a change of 0.33 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0538 |
| 1 | Today Daily Change | 67.0000 |
| 2 | Today Daily Change % | 0.3300 |
| 3 | Today daily open | 1.0503 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 1.069, 50 SMA 1.0845, 100 SMA @ 1.0865 and 200 SMA @ 1.0829.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0690 |
| 1 | Daily SMA50 | 1.0845 |
| 2 | Daily SMA100 | 1.0865 |
| 3 | Daily SMA200 | 1.0829 |
The previous day high was 1.0575 while the previous day low was 1.0488. The daily 38.2% Fib levels comes at 1.0521, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0542, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 1.0469, 1.0435, 1.0383
- Pivot resistance is noted at 1.0556, 1.0608, 1.0642
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0575 |
| Previous Daily Low | 1.0488 |
| Previous Weekly High | 1.0737 |
| Previous Weekly Low | 1.0615 |
| Previous Monthly High | 1.1065 |
| Previous Monthly Low | 1.0766 |
| Daily Fibonacci 38.2% | 1.0521 |
| Daily Fibonacci 61.8% | 1.0542 |
| Daily Pivot Point S1 | 1.0469 |
| Daily Pivot Point S2 | 1.0435 |
| Daily Pivot Point S3 | 1.0383 |
| Daily Pivot Point R1 | 1.0556 |
| Daily Pivot Point R2 | 1.0608 |
| Daily Pivot Point R3 | 1.0642 |
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