#EURUSD @ 0.98350 triggers a knee-jerk after failing to surpass 0.9900. (Pivot Orderbook analysis)

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• EUR/USD triggers a knee-jerk after failing to surpass 0.9900.
• There is initial support around the 0.9700 region so far.

The pair currently trades last at 0.98350.

The previous day high was 0.9869 while the previous day low was 0.9705. The daily 38.2% Fib levels comes at 0.9807, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9768, expected to provide support.

EUR/USD corrects lower and approaches 0.9800 after two consecutive daily advances at the beginning of the week.

In case losses accelerate, the pair should face the initial contention at last week’s lows near the 0.9700 yardstick (October 21). If cleared, then the October low at 0.9631 (October 13) could emerge on the horizon.

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0529.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.9821 at the time of writing. Pair opened at 0.9862 and is trading with a change of -0.42 % .

The pair is trading above its 20 Daily moving average @ 0.9775, below its 50 Daily moving average @ 0.9905 , below its 100 Daily moving average @ 1.0117 and below its 200 Daily moving average @ 1.0539

The previous day high was 0.9869 while the previous day low was 0.9705. The daily 38.2% Fib levels comes at 0.9807, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9768, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.9755, 0.9648, 0.9591
• Pivot resistance is noted at 0.9919, 0.9976, 1.0083

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