Wednesday, September 9, 2015

EUR/USD regains 1.1200 ahead of the closing bell

FXStreet (Córdoba) - EUR/USD stretched a tad higher during the last minutes of trading in New York and posted fresh session highs above 1.1200.

After finding support at 1.1150, EUR/USD staged a comeback but was capped by 1.1200 for a couple of hours before gathering momentum to regain the psychological level. EUR/USD reached a session high of 1.1213. The daily high was set at 1.1229 during the European session. At time of writing, EUR/USD is trading at 1.1205, recording a 0.33% gain on the day.

However and despite intraday volatility, EUR/USD seems to be transiting a consolidation phase as investors refrain from taking big positions ahead of the Federal Reserve meeting next week, when some are still expecting the bank to raise rates.

EUR/USD key levels

In terms of technical levels, next resistances are seen at 1.1229 (Sep 8 high), 1.1243 (Sep 3 high) and 1.1265 (200-day SMA). On the flip side, resistances could be found at 1.1120 (Sep 7 low/100-day SMA), 1.1086 (Sep 3 low) and then 1.1058 (Aug 17 low).
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