- EUR/USD remains muted in the early Asian session on Friday.
- Pair remains pressured below 1.1850 following ECB interest rate decision.
- Momentum oscillator throws caution before placing aggressive bids.
EUR/USD edges lower in the Asian trading hours. The pair moves in a very narrow trade band with downside risk as a post effect of the European Central Bank (ECB) showdown. ECB left the key interest rates unchanged at 0.00% as anticipated on Thursday.
At the time of writing, EUR/USD is trading at 1.1823, down 0.02% for the day.
EUR/USD daily chart
If the price sustains below the session’s low at 1.1823, it could test the previous day’s low at 1.1804 as the first downside target.
The Moving Average Convergence Divergence (MACD) indicator offers potential for more downside as it remained in the overbought zone with stretched buying conditions.
In doing so, EUR.USD bears could approach the 20-day SMA placed at 1.1788 followed by the 1.1750 horizontal support level.
Alternatively, if the price manages to break intraday high, it could reverse back to the 1.1845 horizontal resistance level.
The price action would then target the 1.1880 horizontal resistance level followed by the high September high of 1.1909.
EUR/USD additional levels
|Today last price||1.1823|
|Today Daily Change||0.0007|
|Today Daily Change %||0.06|
|Today daily open||1.1816|
|Previous Daily High||1.1851|
|Previous Daily Low||1.1802|
|Previous Weekly High||1.1909|
|Previous Weekly Low||1.1783|
|Previous Monthly High||1.19|
|Previous Monthly Low||1.1664|
|Daily Fibonacci 38.2%||1.1821|
|Daily Fibonacci 61.8%||1.1832|
|Daily Pivot Point S1||1.1795|
|Daily Pivot Point S2||1.1774|
|Daily Pivot Point S3||1.1746|
|Daily Pivot Point R1||1.1844|
|Daily Pivot Point R2||1.1872|
|Daily Pivot Point R3||1.1893|