25 Aug 2015
EUR/USD supported around 1.1400
FXStreet (Edinburgh) - The daily decline in EUR/USD seems to have found decent support in the 1.1400 neighbourhood at the end of the US session on Tuesday.
EUR/USD softer on USD-buying
The pair remains entrenched in the negative territory today, navigating the low-1.1400s amidst a renewed sentiment towards the greenback and coming back from multi-month peaks above the 1.1700 mark on Monday.
The better-than-expected IFO indicator in Germany did nothing to curb the downbeat sentiment around the funding-currency today, punished further after the PBoC cut its benchmark rates and the bank’s RRR early in the European morning.
EUR/USD key levels
At the moment the pair is retreating 1.60% at 1.1433 with the next support at 1.1396 (low Aug.25) followed by 1.1300 (psychological handle) and finally 1.1240 (low Aug.21). On the flip side, a breakout of 1.1714 (high Aug.24) would open the door to 1.1786 (high Jan.15) and then 1.1846 (high Jan.14).
EUR/USD softer on USD-buying
The pair remains entrenched in the negative territory today, navigating the low-1.1400s amidst a renewed sentiment towards the greenback and coming back from multi-month peaks above the 1.1700 mark on Monday.
The better-than-expected IFO indicator in Germany did nothing to curb the downbeat sentiment around the funding-currency today, punished further after the PBoC cut its benchmark rates and the bank’s RRR early in the European morning.
EUR/USD key levels
At the moment the pair is retreating 1.60% at 1.1433 with the next support at 1.1396 (low Aug.25) followed by 1.1300 (psychological handle) and finally 1.1240 (low Aug.21). On the flip side, a breakout of 1.1714 (high Aug.24) would open the door to 1.1786 (high Jan.15) and then 1.1846 (high Jan.14).