#EURUSD @ 0.97187 fades part of the post-CPI sharp upside on Friday. (Pivot Orderbook analysis)

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• EUR/USD fades part of the post-CPI sharp upside on Friday.
• Next on the downside now comes the weekly low near 0.9630.

The pair currently trades last at 0.97187.

The previous day high was 0.9806 while the previous day low was 0.9632. The daily 38.2% Fib levels comes at 0.974, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9698, expected to provide support.

EUR/USD gives aways most of its recent advance to the area just above the 0.9800 mark at the end of the week.

The continuation of the pullback appears on the cards and carries the potential to challenge the recent weekly low at 0.9631 (October 13) in the short-term horizon.

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0576.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.9721 at the time of writing. Pair opened at 0.9774 and is trading with a change of -0.54 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9802, 50 SMA 0.9957, 100 SMA @ 1.0172 and 200 SMA @ 1.0587.

The previous day high was 0.9806 while the previous day low was 0.9632. The daily 38.2% Fib levels comes at 0.974, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9698, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.9669, 0.9563, 0.9494
• Pivot resistance is noted at 0.9843, 0.9912, 1.0017

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