14 Sep 2015
EUR/USD weakens in Europe, maintains last week’s pattern
FXStreet (Mumbai) - The EUR/USD followed the pattern seen last week to trade weak in Europe on Monday after the upbeat Eurozone industrial production figures pushed up stock prices.
EUR/USD: Bounce ahead?
The Euro’s six-day rally was largely characterized by an early strength in Asia, followed by a drop in Europe, before rebounding in the US session. A similar pattern is seen today as the pair turned lower to 1.1311 from the session high of 1.1373. It remains to be seen if the spot follows last week’s pattern and moves up in the US session.
At the moment, the spot is trading around 1.1325. Given the empty US economic calendar, Euro could remain focused on the sentiment on the Wall Street.
EUR/USD Technical Levels
The immediate resistance is located at 1.1332 (Sep 1 high), followed by a major resistance at 1.1373 (daily high). On the other side, support is seen at 1.1296 (23.6% of May 14-Mar 15 plunge) and 1.1244 (200-DMA).
EUR/USD: Bounce ahead?
The Euro’s six-day rally was largely characterized by an early strength in Asia, followed by a drop in Europe, before rebounding in the US session. A similar pattern is seen today as the pair turned lower to 1.1311 from the session high of 1.1373. It remains to be seen if the spot follows last week’s pattern and moves up in the US session.
At the moment, the spot is trading around 1.1325. Given the empty US economic calendar, Euro could remain focused on the sentiment on the Wall Street.
EUR/USD Technical Levels
The immediate resistance is located at 1.1332 (Sep 1 high), followed by a major resistance at 1.1373 (daily high). On the other side, support is seen at 1.1296 (23.6% of May 14-Mar 15 plunge) and 1.1244 (200-DMA).