- Despite Wednesday’s test of the 1.0980 region, EUR/USD remains broadly within a consolidative mood above the 1.10 handle.
- The ECB event later today will be key in determining the near/medium term price action of spot. On the upside, initial hurdle emerges at last week’s top at 1.1085 ahead of the resistance line at 1.1114.
- Above the latter, the downside pressure should subside somewhat and allow for a move higher to the more relevant 1.1146/63 band, where coincide the 55-day SMA and late August top.
- Looking south, Wednesday’s low at 1.0985 should offer interim resistance in case sellers regain the upper hand ahead of another test of the 2019 low at 1.0926.
EUR/USD daily chart
|Today last price||1.1014|
|Today Daily Change||14|
|Today Daily Change %||0.00|
|Today daily open||1.1014|
|Previous Daily High||1.1056|
|Previous Daily Low||1.0985|
|Previous Weekly High||1.1085|
|Previous Weekly Low||1.0926|
|Previous Monthly High||1.1251|
|Previous Monthly Low||1.0962|
|Daily Fibonacci 38.2%||1.1012|
|Daily Fibonacci 61.8%||1.1029|
|Daily Pivot Point S1||1.0981|
|Daily Pivot Point S2||1.0948|
|Daily Pivot Point S3||1.091|
|Daily Pivot Point R1||1.1051|
|Daily Pivot Point R2||1.1089|
|Daily Pivot Point R3||1.1122|
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