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EUR/USD Technical Analysis: Spot poised for some consolidation near term. Resistance at 21-day SMA at 1.1616

  • The pair has started the week on a positive note so far, leaving behind Friday’s pullback.
  • Initial support emerges at the 10-day SMA in the 1.1530 region, coincident with recent lows. A breakdown of this zone should pave the way for another test of the key support at the 1.1500 neighbourhood.
  • On the upside, the 1.1616/28 band, where converge the 21- and 100-day SMA, appears as the initial hurdle ahead of a potential test of September’s peaks near 1.1800 the figure.

EUR/USD daily chart

EUR/USD

Overview:
    Last Price: 1.1569
    Daily change: 9.0 pips
    Daily change: 0.0779%
    Daily Open: 1.156
Trends:
    Daily SMA20: 1.1617
    Daily SMA50: 1.1585
    Daily SMA100: 1.1628
    Daily SMA200: 1.1921
Levels:
    Daily High: 1.1611
    Daily Low: 1.1534
    Weekly High: 1.1611
    Weekly Low: 1.143
    Monthly High: 1.1816
    Monthly Low: 1.143
    Daily Fibonacci 38.2%: 1.1564
    Daily Fibonacci 61.8%: 1.1582
    Daily Pivot Point S1: 1.1526
    Daily Pivot Point S2: 1.1492
    Daily Pivot Point S3: 1.1449
    Daily Pivot Point R1: 1.1602
    Daily Pivot Point R2: 1.1645
    Daily Pivot Point R3: 1.1679

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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