EUR/USD trims gains and drops toward 1.2120


  • Euro losses momentum versus US dollar, recovers against the pound.
  • EUR/USD backs after testing 2020 highs, remains sideways.

The EUR/USD pair pulled back sharply during the last hours amid a really of the US dollar across the board. It is dropped from 1.2176, the highest level in a week to 1.2126. The euro erased most of its daily gains and as of writing it trades at 1.2135, above Friday’s close but far from the top.

The DXY trimmed losses and rose back above 90.70 after falling to the lowest since 2018 near 90.30. The recovery of the dollar gained speed amid a reversal in Wall Street. The Dow Jones is still up by 0.48% but off highs while the S&P 500 gains 0.55%.  US yields remain higher for the day.

The first person in the US received the COVID-19 vaccine. Optimism around the outlook for the pandemic eased on new about lockdowns in London and New York.

EUR/USD fails at 1.2170

The euro climbed earlier to test the 2020 highs but after matching the December high at the 1.2175 zone pulled back. The EUR/USD pair continues to consolidate at the top, unable to make a clear break above 1.2170 neither below 1.2070.

The main trend points to the upside. The euro needs to break clearly the 1.2170 to open the doors to more gains.

Technical levels

EUR/USD

Overview
Today last price 1.2125
Today Daily Change 0.0008
Today Daily Change % 0.07
Today daily open 1.2117
 
Trends
Daily SMA20 1.1988
Daily SMA50 1.1859
Daily SMA100 1.183
Daily SMA200 1.1457
 
Levels
Previous Daily High 1.2163
Previous Daily Low 1.2105
Previous Weekly High 1.2166
Previous Weekly Low 1.2059
Previous Monthly High 1.2003
Previous Monthly Low 1.1603
Daily Fibonacci 38.2% 1.2127
Daily Fibonacci 61.8% 1.2141
Daily Pivot Point S1 1.2094
Daily Pivot Point S2 1.2071
Daily Pivot Point S3 1.2036
Daily Pivot Point R1 1.2152
Daily Pivot Point R2 1.2186
Daily Pivot Point R3 1.221

 

 

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