- EUR/USD's daily chart shows bull failure at 1.19.
- Daily chart RSI shows bearish bias with lower highs.
EUR/USD looks south, having failed to chew through offers around the psychological level of 1.19 on Tuesday.
The bulls have failed twice in the past four trading days to establish a foothold above 1.19. Notably, on Tuesday, the currency pair faced rejection at 1.19 and closed in the red near 1.1846, forming an inverted hammer, a bearish pattern.
That, coupled with lower highs on the 14-day relative strength index, suggests scope for more profound losses in the common currency.
Key support is seen at 1.1816 – that level is currently housing the trendline rising from May 14 and July 10 lows. A break below that would expose the Sept. 9 low of 1.1753.
On the higher side, a close above 1.19 is needed to restore the bullish bias.
|Today last price||1.1834|
|Today Daily Change||-0.0013|
|Today Daily Change %||-0.11|
|Today daily open||1.1847|
|Previous Daily High||1.1901|
|Previous Daily Low||1.184|
|Previous Weekly High||1.1918|
|Previous Weekly Low||1.1753|
|Previous Monthly High||1.1966|
|Previous Monthly Low||1.1696|
|Daily Fibonacci 38.2%||1.1863|
|Daily Fibonacci 61.8%||1.1877|
|Daily Pivot Point S1||1.1824|
|Daily Pivot Point S2||1.1801|
|Daily Pivot Point S3||1.1763|
|Daily Pivot Point R1||1.1885|
|Daily Pivot Point R2||1.1924|
|Daily Pivot Point R3||1.1946|
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