• EUR/USD’s rebound stays capped by the 1.1800 area.
  • The resumption of the selling bias could see 1.1700 re-tested.

EUR/USD gives away part of Friday’s advance to the area just past 1.1800 the figure. This hurdle also coincides with the 2020-2021 line.

The 1.1800 neighbourhood now emerges as the immediate target for EUR-bulls. If cleared, then the recovery could target the July tops in the area just above the 1.1900 yardstick, where it is expected to struggle.

Failure to re-test/surpass the 1.1800 area could encourage sellers to step in and drag spot once again to YTD lows near 1.1700.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2006.

EUR/USD daily chart

EUR/USD

Overview
Today last price 1.1772
Today Daily Change 34
Today Daily Change % -0.20
Today daily open 1.1796
 
Trends
Daily SMA20 1.1802
Daily SMA50 1.1884
Daily SMA100 1.1963
Daily SMA200 1.201
 
Levels
Previous Daily High 1.1805
Previous Daily Low 1.173
Previous Weekly High 1.1805
Previous Weekly Low 1.1706
Previous Monthly High 1.1909
Previous Monthly Low 1.1752
Daily Fibonacci 38.2% 1.1776
Daily Fibonacci 61.8% 1.1758
Daily Pivot Point S1 1.1749
Daily Pivot Point S2 1.1702
Daily Pivot Point S3 1.1674
Daily Pivot Point R1 1.1824
Daily Pivot Point R2 1.1852
Daily Pivot Point R3 1.1899

 

 

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