EUR/USD steady near 1.1400

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The euro is consolidating gains versus the US dollar as it continues to trade near daily highs and close to the 1.1400 area, headed toward the third gain in a row.

    EUR/USD started to rise on Friday during the American session and after a modest pullback yesterday to 1.1270 gained momentum again. During the actual American session, it reached at 1.1383 a fresh 6-day high and then retreat finding support quickly at 1.1360.

    It was trading at 1.1380, up 0.60% for the day near the end of the day. A weak US dollar boosted the pair. Greenback is falling across the board across the board with the DXY (Dollar Index) about to test April lows.

    EUR/USD technical levels

    To the downside, relevant support levels might be located at 1.1345 (Asian session high / Apr 12 low), 1.1335 (20-hour moving average), 1.1300/05 (daily low) and 1.1270 (Apr 18 low). On the opposite direction, resistance could be seen at 1.1380/85 (daily high), 1.1400 (psychological) and 1.1450 (Apr 7 high).
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