EUR/USD Price Analysis: On the defensive near 1.17 as key indicator turns bearish


  • EUR/USD has declined by over 100 pips over the past five trading days.
  • The daily chart indicators signal scope for deeper declines. 

EUR/USD looks set to extend the recent sell-off, as the MACD histogram, an indicator used to gauge trend strength and trend changes, has crossed into a bearish territory below zero. 

The 14-day relative strength index, too, is biased bearish with a below-50 print. 

The pair is currently trading near 1.17 – down 130 pips from the high of 1.1831 registered last Friday. Support is seen at 1.1612 (Sept 25 low) and 1.1602 (100-day SMA). 

On the higher side, a close above last Friday's high of 1.1831 is needed to invalidate bearish pressures and put the bulls back into the driver's seat. 

Daily chart

Trend: Bearish

Technical levels

EUR/USD

Overview
Today last price 1.1707
Today Daily Change -0.0001
Today Daily Change % -0.01
Today daily open 1.1708
 
Trends
Daily SMA20 1.1738
Daily SMA50 1.1795
Daily SMA100 1.1597
Daily SMA200 1.1278
 
Levels
Previous Daily High 1.1758
Previous Daily Low 1.1688
Previous Weekly High 1.1831
Previous Weekly Low 1.1706
Previous Monthly High 1.2011
Previous Monthly Low 1.1612
Daily Fibonacci 38.2% 1.1715
Daily Fibonacci 61.8% 1.1731
Daily Pivot Point S1 1.1679
Daily Pivot Point S2 1.1649
Daily Pivot Point S3 1.1609
Daily Pivot Point R1 1.1748
Daily Pivot Point R2 1.1787
Daily Pivot Point R3 1.1817

 

 

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