#EURUSD @ 1.07107 gives away part of the recent 2-session gains on Wednesday. (Pivot Orderbook analysis)
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- EUR/USD gives away part of the recent 2-session gains on Wednesday.
- Further downside lies ahead once the monthly low is breached.
The pair currently trades last at 1.07107.
The previous day high was 1.0805 while the previous day low was 1.0707. The daily 38.2% Fib levels comes at 1.0767, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0744, expected to provide resistance.
EUR/USD could not sustain Tuesday’s bull run to levels just beyond the 1.0800 barrier, sparking a corrective decline soon afterwards.
If the selling pressure gathers extra impulse, the pair could dispute the February low at 1.0655 (February 13) in the near term. Against that, the breach of this level could expose further weakness to the next support of note at the YTD low at 1.0481 (January 6).
In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0324.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0711 at the time of writing. Pair opened at 1.0738 and is trading with a change of -0.25 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0711 |
| 1 | Today Daily Change | 45.0000 |
| 2 | Today Daily Change % | -0.2500 |
| 3 | Today daily open | 1.0738 |
The pair is trading below its 20 Daily moving average @ 1.0818, below its 50 Daily moving average @ 1.0716 , above its 100 Daily moving average @ 1.0385 and above its 200 Daily moving average @ 1.0325
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0818 |
| 1 | Daily SMA50 | 1.0716 |
| 2 | Daily SMA100 | 1.0385 |
| 3 | Daily SMA200 | 1.0325 |
The previous day high was 1.0805 while the previous day low was 1.0707. The daily 38.2% Fib levels comes at 1.0767, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0744, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.0695, 1.0652, 1.0597
- Pivot resistance is noted at 1.0793, 1.0848, 1.0891
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0805 |
| Previous Daily Low | 1.0707 |
| Previous Weekly High | 1.0799 |
| Previous Weekly Low | 1.0666 |
| Previous Monthly High | 1.0930 |
| Previous Monthly Low | 1.0483 |
| Daily Fibonacci 38.2% | 1.0767 |
| Daily Fibonacci 61.8% | 1.0744 |
| Daily Pivot Point S1 | 1.0695 |
| Daily Pivot Point S2 | 1.0652 |
| Daily Pivot Point S3 | 1.0597 |
| Daily Pivot Point R1 | 1.0793 |
| Daily Pivot Point R2 | 1.0848 |
| Daily Pivot Point R3 | 1.0891 |
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