EUR/USD regains 1.0600 and trims losses

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 25, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - EUR/USD staged a mild bounce from fresh 7-month lows and regained the 1.0600 level as the dollar softened into the European close.

    After posting a fresh low at 1.0565, EUR/USD turned higher and trimmed early losses, although the upside has remained contained by the 1.0625 zone so far. At time of writing, the pair is trading at 1.0615, still 0.25% below its opening price.

    EUR/USD was already under pressure amid increasing speculations the ECB will extend its QE program, when a series of US data released during the New York session pushed the pair to its lowest level since April.

    EUR/USD technical levels

    On the downside, immediate supports are seen at 1.0520 (Apr 13 low), 1.0500 (psychological level) and 1.0462 (2015 low Mar 13). On the upside, short-term resistances are seen at 1.0679 (10-day SMA), 1.0762 (Nov 19 high) and then 1.0779 (21-day SMA).
    For more information, read our latest forex news.

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