EUR/USD lacks follow-through

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - EUR/USD continues to seesaw within its daily range, showing an erratic behaviour and unable to get follow through.

    EUR/USD recovery was capped by the 1.1270 zone and the pair fell all the way back to 1.1210 before bouncing. Having spent the last hours oscillating within those levels, EUR/USD is currently trading at 1.1245, recording a 0.22% loss on the day.

    There are no fundamental events to drive FX market with the dollar still underperforming versus most competitors, but the euro has been unable to take advantage.

    EUR/USD levels to watch

    On the upside, if EUR/USD manages to break above the 1.1280/90 area (Oct 6 & 4 highs), next resistances line up at 1.1318 (Oct 2 high) and 1.1375 (50-week SMA). On the flip side, supports on pullbacks could be found at 1.1210 (Oct 6 low), 1.1153 (200-day SMA) and 1.1140 (100-day SMA).
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