EUR/USD turns positive late on Wednesday's North American session, but it remains shy of reclaiming the 200-day moving average (DMA) at 1.0802, seen as the next resistance level for buyers.
EUR/USD edges up to 1.0708, forming a bullish 'tweezers bottom' pattern, yet still below the crucial 200-day moving average at 1.0802. The currency pair maintains a neutral stance with a slight bullish tilt, trapped within a 'bearish flag' pattern on the daily chart. Resistance and support levels are set at 1.0758 and the 38.2% Fibonacci level at 1.0654, respectively, as the pair navigates through pivotal technical junctures. The pair is trading at 1.
2% Fibonacci level of the Fibonacci retracement drawn from the November 1 low to the November 6 swing high, keeping buyers hopeful of higher prices. Key resistance levels lie at 1.0758, November’s 6 high, followed by the 200-DMA at 1.0802. On the flip side, the first support is seen at the 38.2% Fibonacci level at 10.654, followed by the confluence of the 50-DMA and the 50% Fibo retracement at 1.0624/35.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Price Analysis: Aims to break below the major level at 1.0700EUR/USD losses ground for the second successive day, trading lower near 1.0710 aligned with the psychological support level at 1.0700 during the Asian session on Tuesday.
Read more »
EUR/USD Price Analysis: Interim contention emerges near 1.0650- EUR/USD comes under pressure following Monday’s tops. - Further decline could revisit the 1.0650 zone in the near term.
Read more »
EUR/USD Price Analysis: Moves below key level at 1.0700 toward seven-day EMAEUR/USD extends the losing streak, trading lower around 1.0690 during the Asian session on Wednesday.
Read more »
EUR/USD Price Analysis: Further weakness could revisit 1.0500- EUR/USD accelerates its losses to weekly lows near 1.0660.
Read more »
GBP/JPY Price Analysis: Climbs above 185.50 as rising wedge loomsThe GBP/JPY reverses its course after posting decent losses of 0.20% on Tuesday and has risen past yesterday’s high of 185.46, as buyers target the current week’s high of 185.95.
Read more »
EUR/USD Price Forecast: German Inflation Aggravates Euro DrawbackEuro prices slumped in early European trade after German inflation fell sharply. EUR/USD now looks to Fed Chair Jerome Powell for guidance.
Read more »