- EUR/USD clinched fresh monthly lows near 1.1740 earlier on Thursday.
- The continuation of the downtrend could see the 1.1700 zone re-visited.
EUR/USD manages to reclaim the 1.18 level after bottoming out in new monthly lows in the 1.1740/35 band during early trade.
If cleared, bears could drag the pair to the key contention zone around 1.17, where converge late August lows and a Fibo level (of the 2017-2018 rally). The 55-day SMA, today at 1.1702, also reinforces this critical juncture.
Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1216.
EUR/USD daily chart
|Today last price||1.1793|
|Today Daily Change||82|
|Today Daily Change %||-0.19|
|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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