#EURUSD @ 1.10637 Federal Reserve raises rates as expected by 25bps to 5.00%-5.25%. (Pivot Orderbook analysis)
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- Federal Reserve raises rates as expected by 25bps to 5.00%-5.25%.
- US Dollar tumbles across the board, US yields hits fresh lows.
- EUR/USD soars above 1.1050, tests multi-month highs.
The pair currently trades last at 1.10637.
The previous day high was 1.1008 while the previous day low was 1.0942. The daily 38.2% Fib levels comes at 1.0983, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0967, expected to provide support.
The EUR/USD pair jumped from 1.1045 to 1.1091, reaching a one-week high after the Federal Reserve announced, as expected, a 25 basis points rate hike, and suggested a potential pause.
The US central bank raised rates with a dovish twist, which weighed on the US Dollar. As a result, the DXY dropped to 101.08, hitting a fresh weekly low, while at the same time, US 2-year yields fell below 3.90%. At 18:30 GMT, Chair Powell will deliver a press conference.
The EUR/USD pair rose towards the key area of 1.1100 and then pulled back modestly, holding above the 1.1050 area with a bullish impulse. A break above 1.1100 could trigger an acceleration and open the doors to the highest level since March 2022.
On the contrary, a retreat below 1.1050 should keep the pair in the recent range. Below the key support, the next level of support is seen at 1.0950, with a slide below exposing 1.0900/10.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.105 at the time of writing. Pair opened at 1.1002 and is trading with a change of 0.44 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.1050 |
| 1 | Today Daily Change | 0.0048 |
| 2 | Today Daily Change % | 0.4400 |
| 3 | Today daily open | 1.1002 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 1.0971, 50 SMA 1.0812, 100 SMA @ 1.077 and 200 SMA @ 1.0422.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0971 |
| 1 | Daily SMA50 | 1.0812 |
| 2 | Daily SMA100 | 1.0770 |
| 3 | Daily SMA200 | 1.0422 |
The previous day high was 1.1008 while the previous day low was 1.0942. The daily 38.2% Fib levels comes at 1.0983, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0967, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 1.096, 1.0918, 1.0894
- Pivot resistance is noted at 1.1026, 1.105, 1.1091
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.1008 |
| Previous Daily Low | 1.0942 |
| Previous Weekly High | 1.1095 |
| Previous Weekly Low | 1.0962 |
| Previous Monthly High | 1.1095 |
| Previous Monthly Low | 1.0788 |
| Daily Fibonacci 38.2% | 1.0983 |
| Daily Fibonacci 61.8% | 1.0967 |
| Daily Pivot Point S1 | 1.0960 |
| Daily Pivot Point S2 | 1.0918 |
| Daily Pivot Point S3 | 1.0894 |
| Daily Pivot Point R1 | 1.1026 |
| Daily Pivot Point R2 | 1.1050 |
| Daily Pivot Point R3 | 1.1091 |
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