With the short-term ... dari Aly

With the short-term key resistance-confluence has aptly been limiting the EUR/USD pair’s upside, the quote drops to 1.1073 during Asian session on Friday. Prices are now likely declining towards 1.1066/63 area including latest lows while August 01 bottom around 1.1027 becomes the key support to watch.

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Aly

EUR/USD is struggling for direction in the lower bound of the weekly range near 1.1070. Occasional bullish attempts are expected to fail in the 1.1141/45 band, where are located the 21-day and 10-day SMAs. While below the 55-day SMA at 1.1224, a deeper pullback to, initially 2019 lows at 1.1026 remains well on the table.

Aly

The #EURUSD pair bounced from the mentioned low ahead of the London fix, heading into the Asian opening trading in the 1.0970 region. The pair retains the #bearish stance, with an upward corrective movement only likely if the pair firms up beyond 1.1000. Now, it is trading at 1.0934. In the meantime, the 4 hours chart shows that the 20 SMA continues accelerating south below the larger moving averages and well above the current level, while technical indicators have stalled their slumps, but remain within extreme oversold levels. The #risk is skewed to the #downside, with the decline seen extending on a break below the mentioned daily low. Support levels: 1.0955 1.0920 1.0890 Resistance levels: 1.1000 1.1040 1.1085

Aly