- EUR/USD reverses the positive start of the session on Tuesday.
- Further gains appear capped initially by the 55-day SMA near 1.0615.
The EUR/USD stepped back part of the recent two-day advance and fell rapidly to 1.0550 on Tuesday.
In the very short term, occasional bullish attempts need to break above the 55-day SMA near 1.0615, which also coincides with the weekly highs. If broken, the next hurdle to watch is the 4-month line near 1.0660. The pair is expected to see its downside pressure eased if it closes above the latter, with the next target being June’s high of 1.0773 and May’s high of 1.0786.
In the long term, the bearish view of the pair is expected to prevail as long as it trades below the 200-day SMA at 1.1125.
EUR/USD daily chart
|Last Price Today||1.0517|
|Today’s Daily Change||-0.0069|
|Today’s Daily Change %||-0.65|
|Today’s Daily Opening||1.0586|
|20 Daily SMA||1.0584|
|50 Daily SMA||1.06|
|100 Daily SMA||1.0839|
|200 Daily SMA||1.1133|
|Previous Daily High||1.0615|
|Previous Daily Minimum||1,055|
|Previous Maximum Weekly||1.0606|
|Previous Weekly Minimum||1.0469|
|Monthly Prior Maximum||1.0787|
|Previous Monthly Minimum||1,035|
|Daily Fibonacci 38.2%||1,059|
|Daily Fibonacci 61.8%||1.0575|
|Daily Pivot Point S1||1.0552|
|Daily Pivot Point S2||1.0519|
|Daily Pivot Point S3||1.0488|
|Daily Pivot Point R1||1.0617|
|Daily Pivot Point R2||1.0648|
|Daily Pivot Point R3||1.0681|
Source: Fx Street