- EUR/USD stays mildly positive above 200-bar SMA.
- Sustained trading beyond the key SMA favor buyers to confirm the bullish chart pattern.
- Fresh selling may wait for a clear downside break below 1.1600.
EUR/USD eases to 1.1675, up 0.10% on a day, during Tuesday’s Asian session. In doing so, the major currency pair steps back from the neckline of a short-term head-and-shoulders bullish chart pattern. However, successful trading beyond 200-bar SMA, amid an absence of overbought RSI, keeps the buyers hopeful.
Hence, fresh buying will take place on a clear break above 1.1680, which in turn will target 1.1750 theoretical aim with the September 23 top, near 1.1720, likely acting as an intermediate halt.
In a case where EUR/USD prices remain strong past-1.1750, the 1.1800 threshold and September 21 top surrounding 1.1870/75 will be in the spotlight.
Alternatively, the pair’s downside below the 200-bar SMA level of 1.1660 may recall 1.1640 and 1.1610 immediate supports on the chart.
Though, EUR/USD bears’ dominance past-1.1610 will need validation from 1.1600 to attack March 2020 top close to 1.1500.
EUR/USD 30-minute chart
Additional important levels
|Today last price||1.1677|
|Today Daily Change||13 pips|
|Today Daily Change %||0.11%|
|Today daily open||1.1664|
|Previous Daily High||1.168|
|Previous Daily Low||1.1615|
|Previous Weekly High||1.1872|
|Previous Weekly Low||1.1612|
|Previous Monthly High||1.1966|
|Previous Monthly Low||1.1696|
|Daily Fibonacci 38.2%||1.1655|
|Daily Fibonacci 61.8%||1.164|
|Daily Pivot Point S1||1.1626|
|Daily Pivot Point S2||1.1588|
|Daily Pivot Point S3||1.1561|
|Daily Pivot Point R1||1.1691|
|Daily Pivot Point R2||1.1718|
|Daily Pivot Point R3||1.1756|
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