- The correction lower in EUR/USD met support in the 1.0870 area.
- The pair’s upside remains limited by the 200-day SMA bove 1.1000.
The decline in EUR/USD seems to have bottomed out around Monday’s lows in the 1.0870 region for the time being.
If sellers regain the upper hand, then a potential drop to the previous consolidative pattern in the 1.0800 neighbourhood remains a palpable chance. Above the 200-day SMA, today at 1.1011, the selling pressure is expected to mitigate somewhat and allow for a probable move to late March peaks in the mid-1.1100s.
Looking at the broader picture, the rangebound theme is expected to prevail at least in the short-term horizon.
EUR/USD daily chart
|Today last price||1.0898|
|Today Daily Change||38|
|Today Daily Change %||-0.04|
|Today daily open||1.0902|
|Previous Daily High||1.0954|
|Previous Daily Low||1.0885|
|Previous Weekly High||1.1009|
|Previous Weekly Low||1.08|
|Previous Monthly High||1.1039|
|Previous Monthly Low||1.0727|
|Daily Fibonacci 38.2%||1.0912|
|Daily Fibonacci 61.8%||1.0928|
|Daily Pivot Point S1||1.0874|
|Daily Pivot Point S2||1.0846|
|Daily Pivot Point S3||1.0806|
|Daily Pivot Point R1||1.0942|
|Daily Pivot Point R2||1.0982|
|Daily Pivot Point R3||1.101|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.