The EURUSD currency pair experiences a significant drop after gaining ground for three consecutive days.
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- EUR/USD sharply reverses part of the recent three-day advance.
The pair currently trades last at 1.08471.
The previous day high was 1.0946 while the previous day low was 1.0855. The daily 38.2% Fib levels comes at 1.0911, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.089, expected to provide resistance.
EUR/USD faces strong headwinds and slips back to the 1.0860 zone on Thursday following tops near 1.0950 recorded in the previous session.
Despite the daily knee-jerk, the pair’s current momentum seems to be favouring the continuation of the march north for the time being. That said, there is a temporary hurdle at the 55-day SMA at 1.0968, which precedes the psychological 1.1000 mark and the August top of 1.1064 (August 10).
In case losses gather extra impulse, a pullback to the 200-day SMA, today at 1.0812, should not be ruled out.
In the meantime, the pair is likely to keep the bullish outlook unchanged while above the 200-day SMA.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0861 at the time of writing. Pair opened at 1.0924 and is trading with a change of -0.58 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0861 |
| 1 | Today Daily Change | 85.0000 |
| 2 | Today Daily Change % | -0.5800 |
| 3 | Today daily open | 1.0924 |
The pair is trading below its 20 Daily moving average @ 1.0904, below its 50 Daily moving average @ 1.0973 , below its 100 Daily moving average @ 1.0926 and above its 200 Daily moving average @ 1.0812
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0904 |
| 1 | Daily SMA50 | 1.0973 |
| 2 | Daily SMA100 | 1.0926 |
| 3 | Daily SMA200 | 1.0812 |
The previous day high was 1.0946 while the previous day low was 1.0855. The daily 38.2% Fib levels comes at 1.0911, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.089, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.0871, 1.0818, 1.078
- Pivot resistance is noted at 1.0961, 1.0998, 1.1051
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0946 |
| Previous Daily Low | 1.0855 |
| Previous Weekly High | 1.0930 |
| Previous Weekly Low | 1.0766 |
| Previous Monthly High | 1.1276 |
| Previous Monthly Low | 1.0834 |
| Daily Fibonacci 38.2% | 1.0911 |
| Daily Fibonacci 61.8% | 1.0890 |
| Daily Pivot Point S1 | 1.0871 |
| Daily Pivot Point S2 | 1.0818 |
| Daily Pivot Point S3 | 1.0780 |
| Daily Pivot Point R1 | 1.0961 |
| Daily Pivot Point R2 | 1.0998 |
| Daily Pivot Point R3 | 1.1051 |
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