TenkoFX - Analytics

    TenkoFX

    425.75 7.25/10
    68% of positive reviews
    Real

    EUR/USD dips below 200-DMA Omkar Godbole

    US dollar is resilient against the common currency despite weakness in the treasury yields. The EUR/USD pair is losing ground after dipping below 200-DMA level of 1.1094 levels.Flirts with 50% FiboAt the time of writing, the pair was flirting with 1.1088 (50% of 1.0463-1.1714). Dollar is trading either flat or on the backfoot against most major currencies, courtesy of the decline in the treasury yields.However, the greenback has managed to etch out moderate gains against Euro. The pair retreated from the NY session high of 1.1112 and dipped below 200-DMA level. The pair remains at the mercy of the broader market sentiment in Europe. German industrial production release is unlikely to result in significant moves.EUR/USD Technical LevelsThe immediate hurdle is noted at 1.1094 (200-DMA), above which the spot could target 1.1131 (June 16 low). A break higher could yield 1.12. On the other hand, acceptance below 1.1088 (50% of 1.0463-1.1714) would open doors for a slide to 1.1062 (Tuesday’s low). A break lower could yield 1.1029 (previous day’s low).


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree