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EUR/USD Asia Price Forecast: Euro records largest daily decline since June 2018

  • EUR/USD is consolidating above the 1.0970 support level on broad-based USD strength.
  • EUR/USD is trading at two-week’s lows while registering its largest daily drop since June 2018.
 

EUR/USD daily chart 

 
The euro is trading at its lowest in two weeks while below its main SMAs. DXY (US dollar index) rose to the upside while pushing EUR/USD down recording its largest daily decline since June 2018. 
  

EUR/USD four-hour chart

 
EUR/USD is consolidating Tuesday’s drop near the 1.1000 figure while just below the 200 SMA on the four-hour chart. As the sellers remain in control a break below the 1.0970 support can extend losses towards the 1.0885 and 1.0850 price levels. Resistance is seen near the 1.1016, 1.1073 and 1.1100 levels, according to the Technical Confluences Indicator.    
  
 
Resistance: 1.1016, 1.1073, 1.1100
Support: 1.0970, 1.0885, 1.0850
 
 

Additional key levels

XAU/USD

Overview
Today last price1528.88
Today Daily Change15.89
Today Daily Change %1.05
Today daily open1512.99
 
Trends
Daily SMA201620.62
Daily SMA501587.99
Daily SMA1001535.53
Daily SMA2001499.98
 
Levels
Previous Daily High1575.63
Previous Daily Low1451.32
Previous Weekly High1703.4
Previous Weekly Low1504.72
Previous Monthly High1689.4
Previous Monthly Low1547.56
Daily Fibonacci 38.2%1498.81
Daily Fibonacci 61.8%1528.14
Daily Pivot Point S11451
Daily Pivot Point S21389
Daily Pivot Point S31326.69
Daily Pivot Point R11575.31
Daily Pivot Point R21637.62
Daily Pivot Point R31699.62

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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