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EUR/USD retraces daily gains

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - EUR/USD recovery stalled at the 1.1070 zone during the American session, as the greenback managed to take back some losses amid month-end flows.

    EUR/USD climbed to a post-Fed peak of 1.1071 at the beginning of the New York session, but found resistance and turned south, sliding back to the 1.1010 zone. With the 100-hour SMA offering support, the pair is currently trading at the 1.1015 zone, still up 0.36% on the day.

    EUR/USD technical levels

    In terms of technical levels, on the upside, immediate resistances are seen at 1.1071 (Oct 30 high), 1.1095 (Oct 28 high) and then 1.1110 (200-day SMA). On the other hand, supports might be found at 1.0896 (Oct 28 low), 1.0847 (Aug monthly low), 1.0808 (July monthly low) and then 1.0784 (Apr 24 low).
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