EUR/USD fails to sustain gains

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - EUR/USD reached a daily high at 1.1052 at the beginning of the New York session, but failed to hold gains and it has been slowly grinding lower over the last hours.

    EUR/USD retreated to the 1.1015 zone as the greenback managed to recover some ground following the release of above-expectations US manufacturing PMIs, but momentum was lacking. At time of writing, the pair is trading at 1.1020, still 0.22% its Friday’s close.

    EUR/USD technical levels

    In terms of technical levels, immediate resistances are seen at 1.1071 (Oct 30 high), 1.1095 (Oct 28 high) and then 1.1109 (200-day SMA). On the other hand, supports could be encountered at 1.0965 (Oct 30 low), 1.0896 (Oct 28 low) and 1.0847 (Aug monthly low).
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