1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

EUR/USD completes round trip, rises back to 1.0900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Córdoba) - EUR/USD managed to recover further and retraced completely the intraday losses triggered by dovish rhetoric from ECB President.

    EUR/USD climbed back to the 1.0900 area, completing a round trip to a 2-week low of 1.0777 as investors continue to digest Draghi's comments. The pair bounced from lows and was initially capped by the 1.0845 area, but picked up fresh momentum in the American afternoon and reached a session high of 1.0900.

    However, EUR/USD failed to regain the psychological level and pulled back slightly. It was last trading at 1.0885, just a few pips below its opening price.

    EUR/USD technical levels

    As for technical levels, immediate supports could be found at 1.0777/70 (Jan 21 & 7 lows) and 1.0710 (Jan 5 low). On the flip side, resistances are now seen at 1.0975/84 (Jan 20 & 15 highs), 1.0997/1.1000 (100-day SMA/psychological level) and 1.1048 (200-day SMA).
    For more information, read our latest forex news.
     

Share This Page