EUR/USD drops further to test 1.1400
|- US Dollar extends gains versus euro despite US data.
- Pair drops to lowest in over a week, tests 1.1400.
The EUR/USD pair broke below 1.1410 and fell to 1.1399, reaching the lowest level since January 28. It remains near the lows, under pressure, testing the 1.1400 zone.
The move lower took place amid a stronger US dollar that is gaining particularly against European currencies. A sharp slide in GBP/USD also pushed EUR/USD to the downside.
The greenback gained strength despite weaker-than-expected US data and also lower US yields. The Markit PMI dropped to 54.2 in January and the ISM non-manufacturing index fell to the lowest since June to 56.7. While in the bond market, the 10-year fell to 2.69%, earlier today hit at 2.736%, the highest level in a week. Later today, US President Trump will deliver the State of the Union address.
EUR/USD Short-term Levels to watch
To the downside, the immediate support is the 1.1400 area, and then 1.1375 and 1.1350. On the upside, 1.1425 (20-hour moving average) is the first resistance, followed by 1.1440 (Feb 5 high) and 1.1460.
EUR/USD
Overview:
Today Last Price: 1.1402
Today Daily change: -0.0032 pips
Today Daily change %: -0.28%
Today Daily Open: 1.1434
Trends:
Daily SMA20: 1.1425
Daily SMA50: 1.1398
Daily SMA100: 1.144
Daily SMA200: 1.1557
Levels:
Previous Daily High: 1.1462
Previous Daily Low: 1.1424
Previous Weekly High: 1.1516
Previous Weekly Low: 1.139
Previous Monthly High: 1.1586
Previous Monthly Low: 1.1289
Daily Fibonacci 38.2%: 1.1439
Daily Fibonacci 61.8%: 1.1447
Daily Pivot Point S1: 1.1419
Daily Pivot Point S2: 1.1403
Daily Pivot Point S3: 1.1382
Daily Pivot Point R1: 1.1456
Daily Pivot Point R2: 1.1477
Daily Pivot Point R3: 1.1493
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