TenkoFX - Analytics

    TenkoFX

    425.75 7.25/10
    68% of positive reviews
    Real

    EUR/USD attempts to regain 200-DMA amid mixed sentiment Dhwani Mehta

    Having bottomed out at 1.1075 last hours, the EUR/USD pair attempts to regain 200-DMA barrier located at 1.1091 amid subdued trading activity seen around the greenback against its major rivals.EUR/USD supported near daily pivot at 1.1079Currently, EUR/USD now trades -0.08% lower at 1.1090, recovering from session lows of 1.1075 struck earlier on the day. The main currency pair is seen recovering losses as the US dollar stalls its post-FOMC minutes recovery and trades muted across the board amid persisting mixed market sentiment.Moreover, markets now await some fundamental drivers to be published in the day ahead, as dust settles over the FOMC minutes. Next of relevance for the major remains the German industrial output data ahead of the release of ECB minutes. Besides, the US employment datasets will be reported in the NA session, and are expected to have significant impact on EUR/USD.On late-Wednesday, the major recovered almost 80-pips and regained 1.11 handle following the release of FOMC minutes, which revealed that the Fed members were split on the rate outlook in light of the Brexit-driven uncertainty, while wanted to see more data before deciding on the interest rate decision.EUR/USD Technical Levels              In terms of technicals, the pair finds the immediate resistance 1.1100/08 (10 & 5-DMA). A break beyond the last, doors will open for a test of 1.1129/50 (daily R1/ psychological levels). On the flip side, the immediate support is placed at 1.1029/22 (Jul 6 & Jun 30 low) below which 1.1006/00 (Jun 26 low/ round figure) could be tested.


    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