The EUR/USD currency pair experiences significant downward pressure after increasing to 1.0770.
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- EUR/USD comes under heavy pressure after climbing to 1.0770.
The pair currently trades last at 1.07171.
The previous day high was 1.0759 while the previous day low was 1.0701. The daily 38.2% Fib levels comes at 1.0737, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0723, expected to provide resistance.
EUR/USD fully fades the auspicious start of the new trading week and confronts the 1.0700 zone following an early bull run to the 1.0770 region, or four-day highs.
The underlying bearish sentiment remains unchanged and leaves the door open to extra pullbacks in the short-term horizon. Against that backdrop, the breach of the 1.0700 region could encourage sellers to embark on a probable visit to the September low of 1.0685 (September 7) ahead of the May low of 1.0635 (May 31).
In the meantime, further losses remain in the pipeline while below the key 200-day SMA, today at 1.0824.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0716 at the time of writing. Pair opened at 1.075 and is trading with a change of -0.32 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0716 |
| 1 | Today Daily Change | 62.0000 |
| 2 | Today Daily Change % | -0.3200 |
| 3 | Today daily open | 1.0750 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 1.0819, 50 SMA 1.0946, 100 SMA @ 1.0908 and 200 SMA @ 1.0825.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0819 |
| 1 | Daily SMA50 | 1.0946 |
| 2 | Daily SMA100 | 1.0908 |
| 3 | Daily SMA200 | 1.0825 |
The previous day high was 1.0759 while the previous day low was 1.0701. The daily 38.2% Fib levels comes at 1.0737, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0723, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.0714, 1.0678, 1.0656
- Pivot resistance is noted at 1.0773, 1.0795, 1.0831
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0759 |
| Previous Daily Low | 1.0701 |
| Previous Weekly High | 1.0809 |
| Previous Weekly Low | 1.0686 |
| Previous Monthly High | 1.1065 |
| Previous Monthly Low | 1.0766 |
| Daily Fibonacci 38.2% | 1.0737 |
| Daily Fibonacci 61.8% | 1.0723 |
| Daily Pivot Point S1 | 1.0714 |
| Daily Pivot Point S2 | 1.0678 |
| Daily Pivot Point S3 | 1.0656 |
| Daily Pivot Point R1 | 1.0773 |
| Daily Pivot Point R2 | 1.0795 |
| Daily Pivot Point R3 | 1.0831 |
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