EUR/USD fails to sustain pace and retreats

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/USD recovery lacked follow through and stalled at the 1.1270 zone, putting the pair back under mild pressure at the beginning of the New York session.

    EUR/USD failed to sustain momentum and retreated, falling back to the 1.1230 zone, although it managed to hold above European session low of 1.1221. At time of writing, EUR/USD is trading at 1.1233, down 0.33% on the day.

    There is no first-tier data scheduled for today’s American session, with EIA crude stocks change, a 10-year note auction and August consumer credit change on tap.

    EUR/USD technical perspective

    Valeria Bednarik, chief analyst at FXStreet notes that short-term technical indicators maintain a neutral stance seen, although the downside should remain contained by the 1.1230 area during the upcoming hours.
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