#EURUSD @ 0.96239 gathers some upside traction above 0.9600. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

• EUR/USD gathers some upside traction above 0.9600.
• Another test of the YTD low near 0.9550 stays on the cards.

The pair currently trades last at 0.96239.

The previous day high was 0.971 while the previous day low was 0.9553. The daily 38.2% Fib levels comes at 0.9613, expected to provide support. Similarly, the daily 61.8% fib level is at 0.965, expected to provide resistance.

EUR/USD meets some fresh buying interest and reclaims the area beyond the 0.9600 mark on Tuesday.

Rising bets for extra weakness in the European currency remain well on the table with the immediate target at the 2022 low at 0.9552 (September 26). A deeper drop could challenge the round level at 0.9500 ahead of 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 1.0676.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.9629 at the time of writing. Pair opened at 0.961 and is trading with a change of 0.2 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9945, 50 SMA 1.0069, 100 SMA @ 1.0274 and 200 SMA @ 1.0687.

The previous day high was 0.971 while the previous day low was 0.9553. The daily 38.2% Fib levels comes at 0.9613, expected to provide support. Similarly, the daily 61.8% fib level is at 0.965, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9539, 0.9467, 0.9382
• Pivot resistance is noted at 0.9695, 0.9781, 0.9852

[/s2If]
Join Our Telegram Group