12 May 2015
EUR/USD consolidates gains above 100-day SMA
FXStreet (Córdoba) - EUR/USD consolidates gains at the upper side of its daily range after rejection from the 1.1280 zone was contained by the 100-day SMA at the 1.1220 zone.
EUR/USD resumed gains on Tuesday influenced by action in bund markets and reached a 2-day high of 1.1278, but stalled a few pips shy of May 8 high coincidentally with a USD comeback across the board. However, with the subsequent pullback being contained by the 1.1220 zone, the pair was confined to a phase of consolidation over the last hours.
EUR/USD levels to watch
At time of writing, EUR/USD is trading at 1.1245, with immediate resistances at 1.1278 (daily high), 1.1289 (May 8 high) and 1.1300 (psychological level). On the other hand, 1.1220 (intraday support), 1.1131 (May 1 low) and 1.1100 (psychological level).
EUR/USD resumed gains on Tuesday influenced by action in bund markets and reached a 2-day high of 1.1278, but stalled a few pips shy of May 8 high coincidentally with a USD comeback across the board. However, with the subsequent pullback being contained by the 1.1220 zone, the pair was confined to a phase of consolidation over the last hours.
EUR/USD levels to watch
At time of writing, EUR/USD is trading at 1.1245, with immediate resistances at 1.1278 (daily high), 1.1289 (May 8 high) and 1.1300 (psychological level). On the other hand, 1.1220 (intraday support), 1.1131 (May 1 low) and 1.1100 (psychological level).