Wednesday, September 9, 2015

EUR/USD trims losses, around 1.1180

FXStreet (Edinburgh) - The single currency has bounced off the mid-1.1100s vs. the greenback on Wednesday, pushing EUR/USD back around the 1.1180 area.

EUR/USD supported at 1.1150

The pair has gained traction after the opening bell in Europe, reverting the initial leg lower to the 1.1150 area amidst an increasing risk-on environment seen during the Asian trading hours.

Results above expectations from EMU’s GDP during the second quarter released yesterday failed to ignite a solid recovery in the pair, which remains confined to the USD-dynamics as almost the exclusive catalyst and the Fed timing of a rate hike.

EUR/USD key levels

The pair is retreating 0.17% at 1.1181 with the immediate support at and a 1.1147 (low Sep.9) followed by 1.1089 (low Sep.4) and finally 1.1057 (low Aug.12). On the other hand, a breakout of 1.1224 (high Sep.8) would target 1.1243 (high Sep.3) en route to 1.1294 (high Sep.2).
For more information, read our latest forex news.

No comments:

Post a Comment