On Thursday, the Euro rose against the US Dollar after US economic data portrayed the economy as weaker than expected. At the same time, the inflation figure prompted investors to price out the Federal Reserve's rate cuts in 2024. At the time of writing, the EUR/USD trades at 1.0729, up by 0.29%.
From a technical standpoint, the EUR/USD remains bearishly biased, but in the short term, it could test the confluence of the 50 and 200-day moving averages (DMAs) at 1.0805/07. If buyers clear that stir resistance, buyers must crack the 100-DMA at 1.0848. Subsequent gains are seen above that level, with the 1.0900 mark up next.
On the flip side, if EUR/USD sellers drag the spot price below the February 14 low of 1.0694, that would pave the way toward the year-to-date (YTD) low of 1.0601, followed by the November 1, 2023, intermediate support at 1.0516.
Overview | |
---|---|
Today last price | 1.0729 |
Today Daily Change | 0.0030 |
Today Daily Change % | 0.28 |
Today daily open | 1.0699 |
Trends | |
---|---|
Daily SMA20 | 1.0735 |
Daily SMA50 | 1.0808 |
Daily SMA100 | 1.0849 |
Daily SMA200 | 1.081 |
Levels | |
---|---|
Previous Daily High | 1.0714 |
Previous Daily Low | 1.0678 |
Previous Weekly High | 1.069 |
Previous Weekly Low | 1.0601 |
Previous Monthly High | 1.0981 |
Previous Monthly Low | 1.0768 |
Daily Fibonacci 38.2% | 1.0692 |
Daily Fibonacci 61.8% | 1.07 |
Daily Pivot Point S1 | 1.068 |
Daily Pivot Point S2 | 1.0661 |
Daily Pivot Point S3 | 1.0643 |
Daily Pivot Point R1 | 1.0716 |
Daily Pivot Point R2 | 1.0733 |
Daily Pivot Point R3 | 1.0752 |
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