“¢ The pair finally broke down of its European session consolidative phase and dropped to fresh session lows in the last hour amid a goodish USD uptick.
“¢ The pair’s inability to move back above 100-hour SMA was seen as a key trigger for intraday bearish traders and behind the latest leg of a sudden drop.
“¢ With technical indicators on hourly chart gaining negative momentum, a follow-through slide towards testing 200-hour SMA now looks a distinct possibility.
“¢ A follow-through selling below the mentioned support might negate any near-term bullish bias and open the room for further near-term depreciating move.
EUR/USD 1-hourly chart
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EUR/USD
Overview:
Today Last Price: 1.1438
Today Daily change %: -0.19%
Today Daily Open: 1.146
Trends:
Daily SMA20: 1.1427
Daily SMA50: 1.1396
Daily SMA100: 1.1442
Daily SMA200: 1.1561
Levels:
Previous Daily High: 1.1489
Previous Daily Low: 1.1434
Previous Weekly High: 1.1516
Previous Weekly Low: 1.139
Previous Monthly High: 1.1586
Previous Monthly Low: 1.1289
Daily Fibonacci 38.2%: 1.1468
Daily Fibonacci 61.8%: 1.1455
Daily Pivot Point S1: 1.1433
Daily Pivot Point S2: 1.1406
Daily Pivot Point S3: 1.1378
Daily Pivot Point R1: 1.1487
Daily Pivot Point R2: 1.1515
Daily Pivot Point R3: 1.1542
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