- EUR/USD recedes from recent tops beyond the 1.20 mark.
- Extra losses could see the 1.17 area re-visited in the near-term.
EUR/USD met a tough resistance in the 1.20 neighbourhood on Tuesday, triggering a correction to the current 1.1850/45 band soon afterwards.
That said, while the leg lower should be deemed as corrective only, it could extend further south and test the key contention region in the 1.1700/1.1690 band (mid-August lows and a Fibo level).
The bullish view on EUR/USD, in the meantime, is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1174.
EUR/USD daily chart
EUR/USD
| OVERVIEW | |
|---|---|
| Today last price | 1.1856 |
| Today Daily Change | 83 |
| Today Daily Change % | -0.47 |
| Today daily open | 1.1912 |
| TRENDS | |
|---|---|
| Daily SMA20 | 1.1838 |
| Daily SMA50 | 1.1608 |
| Daily SMA100 | 1.1312 |
| Daily SMA200 | 1.1173 |
| LEVELS | |
|---|---|
| Previous Daily High | 1.2011 |
| Previous Daily Low | 1.1901 |
| Previous Weekly High | 1.192 |
| Previous Weekly Low | 1.1762 |
| Previous Monthly High | 1.1966 |
| Previous Monthly Low | 1.1696 |
| Daily Fibonacci 38.2% | 1.1943 |
| Daily Fibonacci 61.8% | 1.1969 |
| Daily Pivot Point S1 | 1.1872 |
| Daily Pivot Point S2 | 1.1832 |
| Daily Pivot Point S3 | 1.1762 |
| Daily Pivot Point R1 | 1.1982 |
| Daily Pivot Point R2 | 1.2051 |
| Daily Pivot Point R3 | 1.2092 |
Reprinted from fxstreet , the copyrights all reserved by the original author.
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