Wednesday, September 9, 2015

EUR/USD hit fresh session low below hourly 100-MA

FXStreet (Mumbai) - The EUR/USD pair hit a fresh session low of 1.1143, after having taken out the hourly 100-MA support located at 1.1159.

Hourly 200-MA, a tough nut to crack

The spot failed to sustain above the hourly 200-MA for the seventh time since Tuesday’s Asian session as the uptick in the EUR/GBP cross faded away. Consequently, fresh offers came-in and pushed the spot lower to 1.1143 levels.

With no major data due for release in the US, the investors would take cues from Wall Street. The 2-year treasury yield and Fed funds futures could attract a lot of attention as we are just one week away from the FOMC rate decision due on September 17th.

EUR/USD Technical Levels

The spot currently trades around 1.1150. The immediate resistance is seen at 1.1159 (hourly 100-MA), above which the spot could target 1.12 levels. On the other side, support is seen at 1.1125 (100-DMA) and 1.1084 (50-DMA).
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