• EUR/USD consolidates the biggest daily gain in a week and renews intraday low of late.
  • 21-DMA challenges bears amid steady RSI and bullish MACD signals.
  • Monthly horizontal resistance guards immediate upside, sellers need to conquer 1.0095 to keep reins.

EUR/USD takes offers to refresh intraday low around 1.0225 after Germany’s Industrial Production release on early Friday morning in Europe. In doing so, the major currency pair eased below a monthly horizontal resistance line ahead of the key US employment report for July.

That said, the absence of oversold RSI and bullish MACD hint at the continuation of the EUR/USD pair’s latest weakness.

However, the 21-DMA support near 1.0160 seems to challenge the short-term downside of the pair. Following that, the recent swing low near 1.0090 will act as the last defense of EUR/USD buyers before inviting bears to challenge the yearly low near 0.9950.

Meanwhile, recovery moves may initially battle the monthly horizontal resistance line surrounding 1.0290.

Following that, a downward sloping resistance line from February and a 2.5-month-old horizontal resistance area, surrounding 1.0360-65, appears a tough nut to crack for the EUR/USD bulls.

Although the EUR/USD prices are likely to step back from 1.0365, successful trading beyond the same won’t hesitate to propel the bulls towards June’s peak of 1.0615.

EUR/USD: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 1.0234
Today Daily Change -0.0012
Today Daily Change % -0.12%
Today daily open 1.0246
 
Trends
Daily SMA20 1.0161
Daily SMA50 1.0387
Daily SMA100 1.0571
Daily SMA200 1.0936
 
Levels
Previous Daily High 1.0254
Previous Daily Low 1.0154
Previous Weekly High 1.0258
Previous Weekly Low 1.0097
Previous Monthly High 1.0486
Previous Monthly Low 0.9952
Daily Fibonacci 38.2% 1.0216
Daily Fibonacci 61.8% 1.0192
Daily Pivot Point S1 1.0182
Daily Pivot Point S2 1.0119
Daily Pivot Point S3 1.0083
Daily Pivot Point R1 1.0281
Daily Pivot Point R2 1.0317
Daily Pivot Point R3 1.0381

 

 

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