#EURUSD @ 0.96409 bounces off fresh cycle lows near 0.9550. (Pivot Orderbook analysis)
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- EUR/USD bounces off fresh cycle lows near 0.9550.
- Extra downside could revisit the 0.9411 level near term.
The pair currently trades last at 0.96409.
The previous day high was 0.9852 while the previous day low was 0.9668. The daily 38.2% Fib levels comes at 0.9738, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9782, expected to provide resistance.
EUR/USD keeps the bearish note well in place and drops to new 2-decade lows near 0.9550, where some initial contention seems to have emerged.
Rising prospects for extra weakness in the European currency remain well on the table for the time being. That said, the loss of the 2022 low at 0.9552 (September 26) should leave the pair vulnerable to a challenge to the round level at 0.9500 prior to the weekly low at 0.9411 (June 17 2002).
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0685.
Technical Levels: Supports and Resistances
EURUSD currently trading at 0.9652 at the time of writing. Pair opened at 0.969 and is trading with a change of -0.39 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.9652 |
| 1 | Today Daily Change | 157.0000 |
| 2 | Today Daily Change % | -0.3900 |
| 3 | Today daily open | 0.9690 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9964, 50 SMA 1.008, 100 SMA @ 1.0284 and 200 SMA @ 1.0695.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.9964 |
| 1 | Daily SMA50 | 1.0080 |
| 2 | Daily SMA100 | 1.0284 |
| 3 | Daily SMA200 | 1.0695 |
The previous day high was 0.9852 while the previous day low was 0.9668. The daily 38.2% Fib levels comes at 0.9738, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9782, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.9621, 0.9553, 0.9437
- Pivot resistance is noted at 0.9805, 0.9921, 0.9989
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.9852 |
| Previous Daily Low | 0.9668 |
| Previous Weekly High | 1.0051 |
| Previous Weekly Low | 0.9668 |
| Previous Monthly High | 1.0369 |
| Previous Monthly Low | 0.9901 |
| Daily Fibonacci 38.2% | 0.9738 |
| Daily Fibonacci 61.8% | 0.9782 |
| Daily Pivot Point S1 | 0.9621 |
| Daily Pivot Point S2 | 0.9553 |
| Daily Pivot Point S3 | 0.9437 |
| Daily Pivot Point R1 | 0.9805 |
| Daily Pivot Point R2 | 0.9921 |
| Daily Pivot Point R3 | 0.9989 |
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