#EURUSD @ 1.08534 US Dollar heads for important weekly gains across the board. (Pivot Orderbook analysis)
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- US Dollar heads for important weekly gains across the board.
- Higher US yields and weaker sentiment weigh on EUR/USD.
- The pair is having its worst week since September 2022.
The pair currently trades last at 1.08534.
The previous day high was 1.0998 while the previous day low was 1.09. The daily 38.2% Fib levels comes at 1.0938, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0961, expected to provide resistance.
The EUR/USD is falling on Friday, the fourth time in the last five days, extending its weekly losses. The pair is hovering near 1.0850, at the lowest level in a month, consolidating a weekly loss of more than 150 pips.
The key driver is a stronger US Dollar across the board. The combination of a cautious tone in equity markets and higher US yields is boosting the Greenback.
The US Dollar Index is up by 0.60% on Friday, trading above 102.50, at the highest level in a month. The Dow Jones is down by 0.31% and the Nasdaq is dropping by 0.53%. The US 10-year stands at 3.44% and the 2-year is approaching 4%.
The Euro is having its worst week against the US Dollar since September 2022 so far. The short-term bias for EUR/USD is bearish. “The 1.0800 level is the natural immediate support, en route to 1.0745, the 61.8% retracement of the 2022 yearly decline. A break below the latter should open the door for a long-term USD rally. The 1.0980/1.1000 area will be a tough bone to break now, although if the pair manages to recover above it, 1.1100 is a possible target”, said Valeria Bednarik, Chief Analysts at FXStreet.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0855 at the time of writing. Pair opened at 1.0916 and is trading with a change of -0.56 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0855 |
| 1 | Today Daily Change | -0.0061 |
| 2 | Today Daily Change % | -0.5600 |
| 3 | Today daily open | 1.0916 |
The pair is trading below its 20 Daily moving average @ 1.0992, below its 50 Daily moving average @ 1.0867 , above its 100 Daily moving average @ 1.0797 and above its 200 Daily moving average @ 1.0449
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0992 |
| 1 | Daily SMA50 | 1.0867 |
| 2 | Daily SMA100 | 1.0797 |
| 3 | Daily SMA200 | 1.0449 |
The previous day high was 1.0998 while the previous day low was 1.09. The daily 38.2% Fib levels comes at 1.0938, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0961, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.0878, 1.084, 1.078
- Pivot resistance is noted at 1.0976, 1.1036, 1.1074
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0998 |
| Previous Daily Low | 1.0900 |
| Previous Weekly High | 1.1092 |
| Previous Weekly Low | 1.0942 |
| Previous Monthly High | 1.1095 |
| Previous Monthly Low | 1.0788 |
| Daily Fibonacci 38.2% | 1.0938 |
| Daily Fibonacci 61.8% | 1.0961 |
| Daily Pivot Point S1 | 1.0878 |
| Daily Pivot Point S2 | 1.0840 |
| Daily Pivot Point S3 | 1.0780 |
| Daily Pivot Point R1 | 1.0976 |
| Daily Pivot Point R2 | 1.1036 |
| Daily Pivot Point R3 | 1.1074 |
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