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EUR/USD continues to oscillate, retests daily highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/USD climbed back to retest daily highs following a short-lived pullback at the beginning of the NY session, with the pair trading back and forth as investors continue to assess Fed statement, US GDP and German inflation numbers.

    EUR/USD fell to a session low of 1.0924 from where it bounced, having recovered half a cent over the last minutes. At time of writing, EUR/USD is trading at 1.0965, recording a 0.4% gain on Thursday after losing more than 1% the previous day as the Fed kept December rate hike on the table.

    EUR/USD technical levels

    On the upside, next resistances line up at 1.0995 (Oct 23 low/former support level), 1.1095 (Oct 28 high) and 1.1110 (200-day SMA). On the downside, supports could be faced at 1.0847 (Aug monthly low), 1.0808 (July monthly low) and then 1.0784 (Apr 24 low).
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