Eur/usd - page 538
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Bulls appear to have lost strength and the EUR/USD pair tested the multi-week low at 1.0495. Slight recovery is seen this morning and the current market price is 1.0523. Immediate resistance is located at 1.0530 and in case of breaking it, further recovery would be possible towards 1.0550 area.
On yesterday session, the EURUSD fell with a narrow range and closed near the low of the day, in addition the currency pair managed to close below Thursday low, which suggests a strong bearish momentum.
The currency pair continues to trade below the 10, 50 and 200-day moving averages all should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0900, other daily resistance at 1.0819, the 50-day moving average at 1.0637 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0562 (resistance) a daily support at 1.0527 and other daily support at 1.0462.
EUR/USD rose by 0.15% to 1.0550, moving away from the previous session week low at 1.0492.
On the last Friday’s session the EURUSD rallied with a wide range and closed near the high of the day, in addition the currency pair managed to close above Thursday’s high, which suggests a strong bullish momentum.
The currency pair closed above the 10-day moving average that should provide a dynamic support but continues to trade below the 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0900, other daily resistance at 1.0819, the 50-day moving average at 1.0643 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0563 (support) a daily support at 1.0527 and other daily support at 1.0462.
EUR/USD was seen higher today, but was unable to hold above 1.0600. Currently the pair is testing lows around 1.0578. Meanwhile technical indicators are loosing strength. Immediate support is seen at 1.0525 area and in case of breaking below it, further downslide could be extented towards 1.0500.
EUR/USD bounced off the lows and now is seen hovering around 1.0600. It’s not sure whether the bulls will find enough strength to hold above this line. Since the beginning of February the pair is moving to downwards and in case of breaking below the key support at 1.0550, EUR/USD will be poised to decline further.
On yesterday session, again the EURUSD initially tried to rally but found enough resistance at 1.0622 to give all of its gains back to the market and closed in the red, near the low of the day, in addition closed within Monday’s range, which suggests being slightly on the bearish side of neutral.
The currency pair is trading above the 10-day moving average that should act as a dynamic support but it continues to trade below the 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0900, other daily resistance at 1.0819, the 50-day moving average at 1.0644 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0573 (support) a daily support at 1.0527 and other daily support at 1.0462.