EUR/USD hits fresh daily lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - EUR/USD stretched a tad lower and made fresh lows for the day following a sideways phase at the beginning of the New York session.

    EUR/USD scored a low of 1.0818 although it found support and quickly recovered a few pips to currently trade around 1.0835, still down 0.21% on the day.

    The euro came under mild pressure on Tuesday weighed by a risk-relief rally in Asian and European stocks. Even though Wall Street indexes opened positively, they erased gains most recently weighed by oil prices, which plummeted after a short-lived recovery.

    EUR/USD levels to watch

    In terms of technical levels, next supports are seen at 1.0817 (50-day MA), 1.0800 (psychological level) and 1.0770 (Jan 7 low). On the other hand, resistances could be faced at 1.0900 (psychological level/intraday high), 1.0969 (Jan 11 high) and 1.1029 (100-day SMA).
    For more information, read our latest forex news.

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