- EUR/USD meets daily contention in the 1.1800 neighbourhood so far.
- Extra losses appear contained near 1.1790 for the time being.
The upside momentum in EUR/USD appears to have met a decent barrier at monthly highs in the 1.1880 region (October 21).
The continuation of the side-lined mood seems underpinned by the 55-day SMA and last week’s lows in the 1.1790 zone. A break of this consolidative range in either direction is expected to risk a deeper pullback to the 1.1700 area, while the resumption of the bull trend is seen facing a key hurdle at 1.1880 initially.
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 1.1300.
EUR/USD daily chart
|Today last price||1.1813|
|Today Daily Change||56|
|Today Daily Change %||-0.41|
|Today daily open||1.1862|
|Previous Daily High||1.1865|
|Previous Daily Low||1.1787|
|Previous Weekly High||1.1881|
|Previous Weekly Low||1.1703|
|Previous Monthly High||1.2011|
|Previous Monthly Low||1.1612|
|Daily Fibonacci 38.2%||1.1835|
|Daily Fibonacci 61.8%||1.1817|
|Daily Pivot Point S1||1.1811|
|Daily Pivot Point S2||1.176|
|Daily Pivot Point S3||1.1733|
|Daily Pivot Point R1||1.1889|
|Daily Pivot Point R2||1.1916|
|Daily Pivot Point R3||1.1967|
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