- EUR/USD is struggling to post a bullish follow-through to Tuesday's hammer candle.
- A move above Tuesday's high is needed to revive the immediate bullish case.
EUR/USD is closing on the psychological support of 1.10, having faced rejection near 1.1040 in early Asia.
The pair created a long-tailed hammer candle on Tuesday, indicating seller exhaustion or dip demand near 1.0930. So far, however, the bullish follow-through has remained elusive. The pair is currently reporting a 0.15% loss on the day.
A move above Tuesday's high of 1.1053 would validate or confirm the seller exhaustion signaled by Tuesday's candle and shift risk in favor of a break above the March 27 high of 1.1148.
The outlook will remain neutral as long as the pair is trading within Tuesday's range of 1.0927-1.1053. Acceptance under 1.0927 would imply a continuation of the pullback from the recent high of 1.1148 and open the doors to support at 1.0778 (Feb. 20 low).
|Today last price||1.1015|
|Today Daily Change||-0.0018|
|Today Daily Change %||-0.16|
|Today daily open||1.1033|
|Previous Daily High||1.1055|
|Previous Daily Low||1.0927|
|Previous Weekly High||1.1147|
|Previous Weekly Low||1.0636|
|Previous Monthly High||1.1497|
|Previous Monthly Low||1.0636|
|Daily Fibonacci 38.2%||1.0976|
|Daily Fibonacci 61.8%||1.1006|
|Daily Pivot Point S1||1.0955|
|Daily Pivot Point S2||1.0877|
|Daily Pivot Point S3||1.0827|
|Daily Pivot Point R1||1.1083|
|Daily Pivot Point R2||1.1133|
|Daily Pivot Point R3||1.1211|
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