EUR/USD prints fresh lows under 1.1860


  • US dollar recovers ground across the board.
  • EUR/USD drops toward 1.1850, extending the correction from above 1.1900.

The EUR/USD reversed after approaching 1.1900 and recently reached a two-day low at 1.1854 as the US dollar strengthened across the board. The DXY turned positive as US stocks trimmed gains.

The greenback gained momentum and recovered ground while at the same time the euro printed fresh monthly lows versus the Swiss franc and failed to hold to gains versus the pound.

Stocks in Wall Street moved off highs. The Dow Jones is up by 0.17%, while the Nasdaq slides 0.54%. The 10-year yield stands at 1.17%, near the weekly low, and the DXY gains 0.08%.

Regarding economic reports, factory orders rose more-than-expected 1.5% in June. On Wednesday, the ADP private employment report is due, on Thursday, initial jobless claims and on Friday, Nonfarm payrolls.

Looking at 1.1850

The next support in EUR/USD is seen around 1.1850 (July 30 low) followed by 1.1825/30 and 1.1805. The 20-day moving average, currently at 1.1820, is flat, about to turn to the upside.

On the upside, the key resistance is seen around 1.1885/1.1900. A firm break above would suggest more gains for the euro; with the next resistance levels at 1.1940 and 1.1990.

Technical levels

EUR/USD

Overview
Today last price 1.1866
Today Daily Change -0.0003
Today Daily Change % -0.03
Today daily open 1.1869
 
Trends
Daily SMA20 1.1822
Daily SMA50 1.196
Daily SMA100 1.1972
Daily SMA200 1.2008
 
Levels
Previous Daily High 1.1897
Previous Daily Low 1.1859
Previous Weekly High 1.1909
Previous Weekly Low 1.1764
Previous Monthly High 1.1909
Previous Monthly Low 1.1752
Daily Fibonacci 38.2% 1.1874
Daily Fibonacci 61.8% 1.1882
Daily Pivot Point S1 1.1853
Daily Pivot Point S2 1.1837
Daily Pivot Point S3 1.1815
Daily Pivot Point R1 1.1891
Daily Pivot Point R2 1.1913
Daily Pivot Point R3 1.1929

 

 

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