EURUSD – at the back foot after repeated upside rejection; focus on Trump’s news conference

Slobodan Drvenica Windsor Brokers

EURUSD

The Euro is at the back foot in early Wednesday’s trading following repeated upside rejection at 1.0600 zone (daily Kijun-sen line).
Asian trading was entrenched within narrow range (1.0535/65), contained by 30SMA for now, but yesterday’s bearish candle with long upper shadow weighs.
Mixed technicals see no clear near-term direction while the price is holding between daily Tenkan-sen / Kijun-sen pivots (1.0495 / 1.0605). Break of either side is needed to generate stronger signal.
Lift above 1.0605to expose 1.0668/1.0700 barriers, while loss of Tenkan-sen support would risk further easing.
Next pivot lies at 1.0450 (Fibo 61.8% of 1.0339/1.0625 recovery) below which would open key n/t support at 1.0339 (03 Jan low).
Trump’s press conference, due later today, is in focus

Res: 1.0605; 1.0625; 1.0668; 1.0700
Sup: 1.0535; 1.0509; 1.0495; 1.0448

Interested in EURUSD technicals? Check out the key levels

1. R3 1.0687
2. R2 1.0657
3. R1 1.0610
PP 1.0580
1. S1 1.0532
2. S2 1.0503
3. S3 1.0455

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

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