#EURUSD @ 0.97851 fades the recent advance and breaks below 0.9800. (Pivot Orderbook analysis)

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• EUR/USD fades the recent advance and breaks below 0.9800.
• The October low near 0.9630 comes next on the downside.

The pair currently trades last at 0.97851.

The previous day high was 0.9876 while the previous day low was 0.9813. The daily 38.2% Fib levels comes at 0.9852, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9837, expected to provide resistance.

EUR/USD reverses the uptick to the 0.9870/80 band and comes under pressure below the 0.9800 support on Wednesday.

The inability of the pair to surpass the area of weekly highs near 0.9880 in the very near term could lure extra selling pressure in and pave the way for a probable test of the October low at 0.9631 (October 13).

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0553.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.9778 at the time of writing. Pair opened at 0.9855 and is trading with a change of -0.78 % .

The pair is trading above its 20 Daily moving average @ 0.9772, below its 50 Daily moving average @ 0.9934 , below its 100 Daily moving average @ 1.0144 and below its 200 Daily moving average @ 1.0563

The previous day high was 0.9876 while the previous day low was 0.9813. The daily 38.2% Fib levels comes at 0.9852, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9837, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.982, 0.9785, 0.9757
• Pivot resistance is noted at 0.9883, 0.9911, 0.9946

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