25 May 2015
EUR/USD recovers further, 1.10 on sight?
FXStreet (Edinburgh) - The common currency keeps paring initial losses after hitting lows near 1.0960 in early trade, with EUR/USD now testing the 1.0980 area.
EUR/USD correcting from 1.1500
The pair is retreating for the second consecutive session on Monday, prolonging its rejection from recent mutli-week tops in the boundaries of 1.1500 the figure posted in mid-May.
The pair keeps the trade below the 1.1000 handle so far, amidst a combination of Greek headlines and scarce volatility due to the holidays in Euroland and the US. Next of relevance will be the speeches by Fed’s Vice-Chairman S.Fischer and Cleveland Fed’s President L.Mester.
EUR/USD levels to consider
As of writing the pair is down 0.23% at 1.0985 with the immediate support at 1.0959 (low May 25) ahead of 1.0922 (5055-d MA) and then 1.0860 (low Apr.28). On the other hand a breakout of 1.1062 (low May 20) would aim for 1.1208 (high May 22) and then 1.1217 (38.2% of 1.1468-1.1062).
EUR/USD correcting from 1.1500
The pair is retreating for the second consecutive session on Monday, prolonging its rejection from recent mutli-week tops in the boundaries of 1.1500 the figure posted in mid-May.
The pair keeps the trade below the 1.1000 handle so far, amidst a combination of Greek headlines and scarce volatility due to the holidays in Euroland and the US. Next of relevance will be the speeches by Fed’s Vice-Chairman S.Fischer and Cleveland Fed’s President L.Mester.
EUR/USD levels to consider
As of writing the pair is down 0.23% at 1.0985 with the immediate support at 1.0959 (low May 25) ahead of 1.0922 (5055-d MA) and then 1.0860 (low Apr.28). On the other hand a breakout of 1.1062 (low May 20) would aim for 1.1208 (high May 22) and then 1.1217 (38.2% of 1.1468-1.1062).