- EUR/USD extends the downside to the vicinity of 1.1700.
- Bets for a deeper retracement below 1.17 keep rising.
The continuation of the downtrend seems likely in the very near-term. A breach of the key contention area in the 1.1700/1.1685 area could pave the way for a retracement to the September’s low at 1.1612.
Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1310.
EUR/USD daily chart
|Today last price||1.1704|
|Today Daily Change||58|
|Today Daily Change %||-0.36|
|Today daily open||1.1746|
|Previous Daily High||1.1799|
|Previous Daily Low||1.1718|
|Previous Weekly High||1.1881|
|Previous Weekly Low||1.1703|
|Previous Monthly High||1.2011|
|Previous Monthly Low||1.1612|
|Daily Fibonacci 38.2%||1.1749|
|Daily Fibonacci 61.8%||1.1768|
|Daily Pivot Point S1||1.171|
|Daily Pivot Point S2||1.1673|
|Daily Pivot Point S3||1.1628|
|Daily Pivot Point R1||1.1791|
|Daily Pivot Point R2||1.1836|
|Daily Pivot Point R3||1.1872|
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