- EUR/USD teases weekly high while eyeing a 12-day-old resistance line.
- An ascending trend line from November 17 also challenges the bulls.
- 200-HMA, immediate rising support line can probe the pullback moves.
EUR/USD buyers attack 1.1900 as markets in Tokyo open for Wednesday’s trading. In doing so, the major currency pair not only tests the weekly top but also targets a descending trend line from November 09.
Considering the bullish MACD and the quote’s ability to stay above 200-HMA, the EUR/USD bulls are likely to keep the baton and break the 1.1905 immediate resistance line.
However, another upward sloping trend line resistance, at 1.1910 now, as well as the monthly high near 1.1920, could offer a noisy run-up beyond 1.1900.
On the flip side, an ascending support line from Monday, at 1.1860, near to the 200-HMA level of 1.1852, can restrict the pair’s pullback moves.
It should, however, be noted that any further weakness past-1.1852 will eye for the weekly bottom surrounding 1.1800.
EUR/USD hourly chart
Trend: Pullback expected
Additional impotant levels
|Today last price||1.1899|
|Today Daily Change||7 pips|
|Today Daily Change %||0.06%|
|Today daily open||1.1892|
|Previous Daily High||1.1894|
|Previous Daily Low||1.1837|
|Previous Weekly High||1.1894|
|Previous Weekly Low||1.1814|
|Previous Monthly High||1.1881|
|Previous Monthly Low||1.164|
|Daily Fibonacci 38.2%||1.1872|
|Daily Fibonacci 61.8%||1.1859|
|Daily Pivot Point S1||1.1855|
|Daily Pivot Point S2||1.1817|
|Daily Pivot Point S3||1.1798|
|Daily Pivot Point R1||1.1912|
|Daily Pivot Point R2||1.1932|
|Daily Pivot Point R3||1.1969|
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