- EUR/USD's downside break of a crucial rising trendline has exposed deeper support levels.
- The daily chart RSI is also aligned in favor of the bears.
EUR/USD is flashing red at press time, having dived out of an ascending trendline rising from May 14 and July 10 lows.
The violation of the four-month bullish trendline is backed by a below-50 or bearish reading on the 14-day relative strength index.,
As such, the pair looks set to test the 50-day simple moving average (SMA), currently at 1.1743. Acceptance below the major average would expose the horizontal support at 1.1696 (Aug. 3 low).
The pair is currently trading ner 1.1776, representing a 0.30% decline on the day. A close above the Sept. 10 high of 1.1918 is needed to put the bulls back into the driver's seat.
|Today last price||1.1776|
|Today Daily Change||-0.0023|
|Today Daily Change %||-0.30|
|Today daily open||1.1816|
|Previous Daily High||1.1883|
|Previous Daily Low||1.1788|
|Previous Weekly High||1.1918|
|Previous Weekly Low||1.1753|
|Previous Monthly High||1.1966|
|Previous Monthly Low||1.1696|
|Daily Fibonacci 38.2%||1.1824|
|Daily Fibonacci 61.8%||1.1846|
|Daily Pivot Point S1||1.1775|
|Daily Pivot Point S2||1.1734|
|Daily Pivot Point S3||1.168|
|Daily Pivot Point R1||1.187|
|Daily Pivot Point R2||1.1924|
|Daily Pivot Point R3||1.1964|
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