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Euro Under Pressure: Risk Aversion Drives EURUSD to Key Support Levels

 

As risk aversion rises, EURUSD lost its luster. The pair had an intraday low of 1.16821and its current value is around 1.16860.

 

Technicals

CMP -1.16860

Trend

1- Hour chart

Value

 

 

55 EMA

1.17145

CMP <value

Bearish

200- EMA

1.17232

CMP < value

Bearish

365- EMA

1.17068

CMP< value

Bearish

 

Major support- 1.1700/1.1660/1.1600. Near-term resistance-1.1800/1.18500/1.1925

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-142

ADX

Bearish

Strength increased from 15.80 to 22

 

 

It is good to sell on rallies around 1.1700  with SL around 1.17600 for a TP of 1.1600/1.15750.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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