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EUR/USD consolidates above 1.1300

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The euro reached a fresh daily high against the US dollar during the American session at 1.1331, the strongest level since last Wednesday. Afterwards it pulled back modestly but remained above 1.1300.

    On a quiet session, EUR/USD has been able to erase all losses after falling on Asian hours to 1.1272. During the last hours, it has been consolidating gains above 1.1300, holding a bullish tone.

    The pair is rising for the second day in a row as it continues to recover ground after falling last week to 1.1232.

    EUR/USD technical levels

    To the downside, relevant support levels might be located at 1.1295 (Apr 14 high / American session low / 20-hour MA), 1.270/75 (daily low) and 1.1240/45 (Apr 15 low). On the opposite direction, resistance might be seen at 1.1331 (daily high), 1.1365 ( Mar 30 high) and 1.1400 (psychological).
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