#EURUSD @ 0.97702 comes under pressure and puts 0.9700 to the test. (Pivot Orderbook analysis)

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• EUR/USD comes under pressure and puts 0.9700 to the test.
• Further south emerges the October low near 0.9630.

The pair currently trades last at 0.97702.

The previous day high was 0.9846 while the previous day low was 0.9755. The daily 38.2% Fib levels comes at 0.9811, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9789, expected to provide resistance.

EUR/USD accelerates losses and flirts with the key 0.9700 neighbourhood at the end of the week.

In case losses accelerate and the pair breaches 0.9700, then the next significant support is expected to appear at the October low at 0.9631 (October 13). Once cleared, there are no contention levels of note until the 2022 low at 0.9535 (September 28).

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0536.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.9758 at the time of writing. Pair opened at 0.9787 and is trading with a change of -0.3 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9767, 50 SMA 0.9913, 100 SMA @ 1.0125 and 200 SMA @ 1.0547.

The previous day high was 0.9846 while the previous day low was 0.9755. The daily 38.2% Fib levels comes at 0.9811, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9789, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9746, 0.9705, 0.9655
• Pivot resistance is noted at 0.9837, 0.9887, 0.9928

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