- 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
|Today last price||1.1772|
|Today Daily Change||34|
|Today Daily Change %||-0.20|
|Today daily open||1.1796|
|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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