The EURUSD exchange rate, currently standing at 1.09902, is fluctuating at elevated levels seen 1.5 months ago following the end of a three-day decline. The prediction by @nehcap is that there will be more potential for a rise.
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- EUR/USD seesaws around the highest levels in 1.5 months after snapping three-day downtrend.
The pair currently trades last at 1.09902.
The previous day high was 1.0946 while the previous day low was 1.0893. The daily 38.2% Fib levels comes at 1.0913, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0926, expected to provide support.
EUR/USD stays on the front foot at the highest levels since early May, making rounds to 1.0990 during early Thursday morning in Asia. In doing so, the EUR/USD pair manages to cheer the upside break of a nearly three-month-old horizontal resistance zone.
That said, a sustained break of the horizontal region comprising multiple levels marked since April 04, around 1.0970-55, keeps the EUR/USD buyers hopeful. Also keeping the Euro buyers hopeful are the bullish MACD signals.
However, the RSI (14) line is nearly overbought and hence the 1.1000 psychological magnet and February month’s high of near 1.1030 will challenge the EUR/USD buyers.
Following that, the yearly high marked in April around 1.1100 and an upward-sloping resistance line from February, near 1.1125 at the latest, will be in the spotlight.
Alternatively, a downside break of the 1.0970-55 support area can quickly drag the EUR/USD price toward the 50-DMA support of 1.0880, which in turn acts as the short-term final defense of the Euro buyers.
Overall, EUR/USD buyers are likely to keep the reins unless witnessing a clear downside break of the 1.0970-55 zone.
Trend: Further upside expected
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0989 at the time of writing. Pair opened at 1.0918 and is trading with a change of 0.65% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0989 |
| 1 | Today Daily Change | 0.0071 |
| 2 | Today Daily Change % | 0.65% |
| 3 | Today daily open | 1.0918 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 1.0777, 50 SMA 1.088, 100 SMA @ 1.0808 and 200 SMA @ 1.0551.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0777 |
| 1 | Daily SMA50 | 1.0880 |
| 2 | Daily SMA100 | 1.0808 |
| 3 | Daily SMA200 | 1.0551 |
The previous day high was 1.0946 while the previous day low was 1.0893. The daily 38.2% Fib levels comes at 1.0913, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0926, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 1.0892, 1.0865, 1.0838
- Pivot resistance is noted at 1.0945, 1.0972, 1.0999
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0946 |
| Previous Daily Low | 1.0893 |
| Previous Weekly High | 1.0971 |
| Previous Weekly Low | 1.0733 |
| Previous Monthly High | 1.1092 |
| Previous Monthly Low | 1.0635 |
| Daily Fibonacci 38.2% | 1.0913 |
| Daily Fibonacci 61.8% | 1.0926 |
| Daily Pivot Point S1 | 1.0892 |
| Daily Pivot Point S2 | 1.0865 |
| Daily Pivot Point S3 | 1.0838 |
| Daily Pivot Point R1 | 1.0945 |
| Daily Pivot Point R2 | 1.0972 |
| Daily Pivot Point R3 | 1.0999 |
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