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20 May 2015
EUR/USD extends the recovery to 1.1120
FXStreet (Edinburgh) - After hitting fresh lows in the 1.1060 area, EUR/USD has now regained the 1.1100 handle and is advancing towards 1.1120.
EUR/USD supported at 1.1060
The decline in the pair seems to have found transitory support in the critical 1.1060 area, as markets seem to have digested the recent comments by ECB’s B.Coeure. Spot is losing ground for the third consecutive session so far, after being rejected from the 1.15 neighbourhood last week amidst a strong resurgence of the US dollar.
Ahead in the session, the pair will be under pressure in light of the publication of the FOMC minutes, with opinions pretty divided regarding the probable tone.
EUR/USD relevant levels
As of writing the pair is down 0.23% at 1.1123 with the next support at 1.1062 (low May 20) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1151 (3821-d MA) would expose 1.1166 (100-d MA) and then 1.1237 (38.2% of 1.1468-1.1095).
EUR/USD supported at 1.1060
The decline in the pair seems to have found transitory support in the critical 1.1060 area, as markets seem to have digested the recent comments by ECB’s B.Coeure. Spot is losing ground for the third consecutive session so far, after being rejected from the 1.15 neighbourhood last week amidst a strong resurgence of the US dollar.
Ahead in the session, the pair will be under pressure in light of the publication of the FOMC minutes, with opinions pretty divided regarding the probable tone.
EUR/USD relevant levels
As of writing the pair is down 0.23% at 1.1123 with the next support at 1.1062 (low May 20) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1151 (3821-d MA) would expose 1.1166 (100-d MA) and then 1.1237 (38.2% of 1.1468-1.1095).