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EUR/USD back and forth around 1.0900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - EUR/USD hit fresh daily lows during the American afternoon, but found buyers at the 200-hour SMA and quickly rose back above the 1.09 mark.

    EUR/USD bottomed out at 1.0887 and turned higher, climbing to a session high of 1.0931 in recent dealings. The pair is currently trading at 1.0925, now 0.17% above its opening price. The pair has been trading erratically around the 1.0900 level over the last sessions, unable to set a longer term direction.

    It reached a peak of 1.0975 during the European session, but retreated in tandem with market’s mood swing.

    EUR/USD technical levels

    In terms of technical levels, next resistances could be found at 1.0984 (Jan 15 high), 1.1002 (100-day SMA), 1.1047 (200-day SMA) and 1.1100 (psychological level). On the flip side, supports are seen at 1.0820 (50-day SMA), 1.0804/00 (Jan 13 & 8 lows/psychological level), 1.0770 (Jan 7 low) and then 1.0710 (Jan 5 low).
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