EUR/USD hovers near 1-week lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Despite a resumption of risk aversion, EUR/USD continued to fall on Tuesday and was on track for its third daily loss in a row, as the greenback was trading firm versus most competitors, main exception made by the yen.

    EUR/USD made an attempt to regain the 1.1200 area but failed and came under mild pressure, having fallen around 70 pips over the last hours to hit an 8-day low of 1.1124 in recent dealings. The pair has spent the last hours in a slim range near lows and it was last trading at 1.1140, still 0.13% below its opening price.

    EUR/USD levels to watch

    As for technical levels, immediate supports are seen at 1.1127/24 (Feb 15 & 16 lows), 1.1055 (200-day SMA) and 1.0966 (100-day SMA). On the flip side, resistances could be found at 1.1210 (10-day SMA), 1.1249 (Feb 15 high) and 1.1333 (Feb 12 high).
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