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  • EUR/USD comes under further downside pressure in the second half of the week and is now putting the key 1.1700 support to the test.
  • As long as spot trades above the short-term support line, today at 1.1684, the constructive bias should prevail. This area is also reinforced by the 21-day SMA at 1.1664.
  • The loss of the 21-day SMA (1.1664) and the 55-day SMA (1.1621) should open the door for a potential test of the 1.1500 neighbourhood.

EUR/USD daily chart

 

 

 

 

 

 

 

 

 

 

 

 

Daily High:  1.1798
Daily Low:  1.1726
Weekly High:  1.1804
Weekly Low:  1.1618
Monthly High:  1.1804
Monthly Low:  1.1526
 

Daily Pivot Point S1:  1.1711
Daily Pivot Point S2:  1.1683
Daily Pivot Point S3:  1.1639
Daily Pivot Point R1:  1.1784
Daily Pivot Point R2:  1.1827
Daily Pivot Point R3:  1.1856