EUR/USD off lows, attempts to regain 1.1400

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD recovered some ground after falling to fresh 4-day lows as knee-jerk reaction to upbeat US non-manufacturing PMI.

    EUR/USD bottomed out at 1.1335 but quickly managed to completely erase intraday losses as it climbed to trade back around 1.1390/95. The pair is trading virtually unchanged on the day, but overall remains near a 2016 peak of 1.1437 scored last Friday just before the nonfarm payrolls release.

    EUR/USD technical levels

    As for technical levels next supports for EUR/USD are seen at 1.1335/34 (Apr 5 & 1 lows), 1.1287 (10-day SMA) and 1.1232 (20-day SMA). On the other hand, resistances line up at 1.1412 (Apr 4 high), 1.1437 (2016 high, Apr 1), 1.1494 (Oct 15 high) and 1.1560 (Aug 26 high).
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