• Having failed to move back above 100-hour SMA, the pair met with some aggressive supply and tumbled to sub-1.1300 level, or fresh monthly lows, on dismal Euro-zone PMI prints.
• The steep intraday decline dragged technical indicators on the 1-hourly chart into oversold territory and turned out to be the only factor limiting further downside, at least for the time being.
EUR/USD 1-hourly chart
-636803846000355939.png)
• Meanwhile, the pair already seems to have confirmed a near-term bearish breakthrough an ascending trend-line support, extending from yearly lows through lows set on Nov. 28 and Dec. 11.
• Moreover, technical indicators on the 4-hourly chart have just started gaining negative momentum and hence, the pair remains vulnerable to head back towards retesting yearly lows.
4-hourly chart
-636803846270670132.png)
EUR/USD
Overview:
Today Last Price: 1.1296
Today Daily change: -68 pips
Today Daily change %: -0.598%
Today Daily Open: 1.1364
Trends:
Previous Daily SMA20: 1.1365
Previous Daily SMA50: 1.1403
Previous Daily SMA100: 1.1501
Previous Daily SMA200: 1.1723
Levels:
Previous Daily High: 1.1394
Previous Daily Low: 1.1331
Previous Weekly High: 1.1424
Previous Weekly Low: 1.1311
Previous Monthly High: 1.15
Previous Monthly Low: 1.1216
Previous Daily Fibonacci 38.2%: 1.1355
Previous Daily Fibonacci 61.8%: 1.137
Previous Daily Pivot Point S1: 1.1332
Previous Daily Pivot Point S2: 1.13
Previous Daily Pivot Point S3: 1.127
Previous Daily Pivot Point R1: 1.1395
Previous Daily Pivot Point R2: 1.1426
Previous Daily Pivot Point R3: 1.1457
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