#EURUSD @ 0.99960 reclaims part of the ground lost on Tuesday’s sell-off. (Pivot Orderbook analysis)
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- EUR/USD reclaims part of the ground lost on Tuesday’s sell-off.
- Further rebound should target the multi-month line near 1.180.
The pair currently trades last at 0.99960.
The previous day high was 1.0187 while the previous day low was 0.9967. The daily 38.2% Fib levels comes at 1.0051, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0103, expected to provide resistance.
EUR/USD regains some poise and manages to trim part of the weekly pullback following Tuesday’s slump in the wake of the release of US inflation figures.
If the recovery picks up extra pace, then the interim hurdle comes at the 55-day SMA at 1.0125 prior to the key 7-month resistance line, today near 1.0180. A move beyond the latter is needed to mitigate the downside pressure and allow at the same time a visit to the interim 100-day SMA at 1.0325 prior to the more relevant August high at 1.0368 (August 10).
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0741.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0006 at the time of writing. Pair opened at 0.9974 and is trading with a change of 0.32 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0006 |
| 1 | Today Daily Change | 68.0000 |
| 2 | Today Daily Change % | 0.3200 |
| 3 | Today daily open | 0.9974 |
The pair is trading above its 20 Daily moving average @ 1.0003, below its 50 Daily moving average @ 1.0108 , below its 100 Daily moving average @ 1.0334 and below its 200 Daily moving average @ 1.075
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0003 |
| 1 | Daily SMA50 | 1.0108 |
| 2 | Daily SMA100 | 1.0334 |
| 3 | Daily SMA200 | 1.0750 |
The previous day high was 1.0187 while the previous day low was 0.9967. The daily 38.2% Fib levels comes at 1.0051, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0103, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.9898, 0.9822, 0.9677
- Pivot resistance is noted at 1.0118, 1.0263, 1.0339
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0187 |
| Previous Daily Low | 0.9967 |
| Previous Weekly High | 1.0114 |
| Previous Weekly Low | 0.9864 |
| Previous Monthly High | 1.0369 |
| Previous Monthly Low | 0.9901 |
| Daily Fibonacci 38.2% | 1.0051 |
| Daily Fibonacci 61.8% | 1.0103 |
| Daily Pivot Point S1 | 0.9898 |
| Daily Pivot Point S2 | 0.9822 |
| Daily Pivot Point S3 | 0.9677 |
| Daily Pivot Point R1 | 1.0118 |
| Daily Pivot Point R2 | 1.0263 |
| Daily Pivot Point R3 | 1.0339 |
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