{"id":151858,"date":"2023-09-08T05:06:02","date_gmt":"2023-09-07T23:36:02","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151858"},"modified":"2023-09-08T05:06:02","modified_gmt":"2023-09-07T23:36:02","slug":"hovers-below-1-0700-eyeing-the-1-0600-figure-amid-bearish-signals-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/hovers-below-1-0700-eyeing-the-1-0600-figure-amid-bearish-signals-crypto-news\/","title":{"rendered":"Hovers below 1.0700, eyeing the 1.0600 figure amid bearish signals &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>EUR\/USD trades at 1.0696, up 0.01%, but remains below the pivotal 1.0700 mark, signaling potential for further downside.<\/strong><\/li>\n<li><strong>For a bullish reversal, the pair needs to clear 1.0700 and aim for September 6 daily high of 1.0748 as an intermediate resistance.<\/strong><\/li>\n<li><strong>Most likely scenario sees EUR\/USD targeting May 31 low of 1.0635, with a breach potentially exposing the 1.0600 psychological level.<\/strong><\/li>\n<\/ul>\n<p>The EUR\/USD begins the Asian session almost flat but below the 1.0700 figure, seen as a bearish signal, after printing losses of 0.29% on Thursday, which could open the door to test May lows. At the time of writing, the major trades at 1.0696, up 0.01%.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/USD Price Analysis: Technical outlook<\/h2>\n<p>The daily chart portrays a continuation of the downtrend, as the pair achieved a new lower-low and trades near the bottom of the weekly range. However, being the 1.0700 figure that usually keeps the EUR\/USD seesawing in the top\/bottom of the double zero mark, buyers and sellers need to take action to win the battle.<\/p>\n<p>For buyers, the EUR\/USD must climb above 1.0700 and reclaim the September 6 daily high of 1.0748, an intermediate resistance level. Once cleared, the pair&#8217;s next ceiling level would be the September 5 high at 1.0798 before challenging the 200-day Moving Average (DMA) at 1.0822.<\/p>\n<p>On the flip side, and the most likely scenario, due to recent <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">economic data<\/a> and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/eurusd\">EUR\/USD<\/a> breaking decisively below the 200-DMA, the first support would be the May 31 daily low of 1.0635. A breach of the latter will expose the psychological 1.0600 figure, followed by the March 15 swing low of 1.0516.<\/p>\n<h3 class=\"fxs_headline_medium\">EUR\/USD Price Action \u2013 Daily chart<\/h3>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-638297249993276683.png\"><\/a><\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: EUR\/USD trades at 1.0696, up 0.01%, but remains below the pivotal 1.0700 mark, signaling potential for further downside. For a bullish reversal, the pair needs to clear 1.0700 and aim for September 6 daily high of 1.0748 as an intermediate resistance. Most likely scenario sees EUR\/USD targeting May 31 low of 1.0635, with a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,276,433,255,250,277,252,247,253,249,308,256,254],"class_list":["post-151858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-eurusd","tag-gta","tag-looks-rare","tag-majors","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151858"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151858\/revisions"}],"predecessor-version":[{"id":151859,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151858\/revisions\/151859"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/2551"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}