EUR/USD Technical Analysis: Fails to sustain/build on momentum beyond 1.1600
• This week's recovery move from seven-week low stalled ahead of 100-period SMA on the 4-hourly chart and the pair struggled to sustain/build on an early momentum beyond the 1.1600 handle.
• Short-term technical indicators on the mentioned chart maintain a positive bias and the pair continues to hold above important intraday moving averages - 50, 100 & 200-hour SMAs.
• The set-up clearly points to a more near-term positive outlook and hence, dip-buying interest should help limit any immediate sharp downfall amid absent market moving economic releases.
EUR/USD 4-hourly chart
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EUR/USD
Overview:
Last Price: 1.1578
Daily change: -16 pips
Daily change: -0.138%
Daily Open: 1.1594
Trends:
Daily SMA20: 1.1621
Daily SMA50: 1.1586
Daily SMA100: 1.1629
Daily SMA200: 1.1923
Levels:
Daily High: 1.16
Daily Low: 1.1519
Weekly High: 1.1625
Weekly Low: 1.1464
Monthly High: 1.1816
Monthly Low: 1.1464
Daily Fibonacci 38.2%: 1.1569
Daily Fibonacci 61.8%: 1.155
Daily Pivot Point S1: 1.1542
Daily Pivot Point S2: 1.149
Daily Pivot Point S3: 1.1461
Daily Pivot Point R1: 1.1623
Daily Pivot Point R2: 1.1652
Daily Pivot Point R3: 1.1704