EUR/USD Technical Analysis: flirting with 200-hour SMA near 1.1700. Solid support lies around 1.1670/60.
|- The pair is prolonging the sideline theme on Thursday, probing the key area around 1.1700 the figure, where sits the 200-hour SMA.
- On the daily chart, the outlook still looks positive while the 21-day SMA underpins, today near 1.1650. Above here, the door remains open for a test of the key area in the mid-1.1800s, where sit June’s peaks and the 38.2% Fibo retracement of the April-May down move.
- In case the selling pressure resumes, hourly (weekly) lows in the 1.1660/70 band should hold well the initial test. Below here lies the 1.1530 area ahead of the ‘double bottom’ in the 1.1500 neighbourhood.
- The daily RSI (14) stays around 44 for the time being, pointing to some extra consolidation in the near term horizon.
Daily high: 1.1693
Daily low: 1.1670
Support Levels
S1: 1.1639
S2: 1.1605
S3: 1.1544
Resistance Levels
R1: 1.1734
R2: 1.1794
R3: 1.1828
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.