EUR/USD Technical Analysis: Bears await a convincing break below ascending trend-channel
|• The pair continued with its struggle to sustain/build on the attempted intraday up-move beyond 50-hour EMA and remains within striking distance of two-week lows set on Friday.
• Technical indicators on hourly/daily charts continue to hold in the bearish territory and support prospects for an extension of the ongoing bearish trajectory in the near-term.
• Bearish traders, however, are likely to wait for a convincing break below a short-term ascending trend-channel formation on the daily chart before placing any aggressive bets.
• Below the mentioned support, the pair is likely to break through the 1.1300 round figure mark and aim towards challenging multi-month lows support near the 1.1215 region.
Daily chart
EUR/USD
Overview:
Today Last Price: 1.1362
Today Daily change: -3 pips
Today Daily change %: -0.03%
Today Daily Open: 1.1365
Trends:
Daily SMA20: 1.143
Daily SMA50: 1.1386
Daily SMA100: 1.1463
Daily SMA200: 1.1604
Levels:
Previous Daily High: 1.1412
Previous Daily Low: 1.1353
Previous Weekly High: 1.1491
Previous Weekly Low: 1.1353
Previous Monthly High: 1.1486
Previous Monthly Low: 1.1269
Daily Fibonacci 38.2%: 1.1375
Daily Fibonacci 61.8%: 1.1389
Daily Pivot Point S1: 1.1341
Daily Pivot Point S2: 1.1318
Daily Pivot Point S3: 1.1283
Daily Pivot Point R1: 1.14
Daily Pivot Point R2: 1.1435
Daily Pivot Point R3: 1.1458
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