Eur/usd - page 432
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Yesterday EURUSD tried to rise but found enough resistance to reverse and close near the low of the day, in addition managed to close below the previous day low, suggesting a strong bearish momentum.
The pair is trading below the 10-day moving average that is acting as a dynamic resistance although is still trading above the 50 and the 200-day moving averages that act as a dynamic support.
The key levels to watch are: Daily resistance at 1.1556, other daily resistance at 1.1459, the 10-day moving average at 1.1435 (resistance), the 50-day moving average at 1.1315 (support) and a daily support at 1.1237.
EUR/USD did not make significant movement yesterday and again failed to conquer 1.14. The bias remains bearish in nearest term with a possible test of 1.1275 - 1.1200. First resistance is around 1.1430. A clear breakout beyond it, might take price to neutral trading zone for testing 1.1475 - 1.1500.
EUR/USD: Pair Stuck Below $1.14, Volatility Minimal
The EUR/USD pair has been calm on Tuesday and was trading flattish around $1.1380 as there was no new macro news to set the direction for the pair.
The immediate resistance is at April's highs around $1.1440/50 and at the post non-farm payroll highs of $1.1470. The support for Tuesday is around $1.1370 and if broken, the pair might decline toward $1.1340.
More importantly, the dollar index managed to push above the 94.00, which was a strong resistance. The index rose mainly on the yen's strength. While above this mark, the outlook for the US dollar is broadly bullish and the EUR/USD pair is expected to decline in the near future.
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The euro marked a slight drop against the US dollar on Tuesday session. The short-term indicators remain in favor of the US currency. In this case the pair might test the support at 1.1309.
Yesterday EURUSD initially rose but found enough selling pressure to give back all its gains and closed in the red, near the low of the day, in addition managed to close below the previous day low, suggesting a strong bearish momentum.
The pair is trading below the 10-day moving average that is acting as a dynamic resistance although is still trading above the 50 and the 200-day moving averages that act as a dynamic support.
The key levels to watch are: Daily resistance at 1.1556, other daily resistance at 1.1459, the 10-day moving average at 1.1437 (resistance), the 50-day moving average at 1.1319 (support) and a daily support at 1.1237.
The pair has lost the will to find a clear direction. The lack of major macro data and minimal volatility keep EUR/USD stuck around 1.14. Immediate resistance is located at 1.440 and the support I around 1.340. In case of breaking it, the pair will drift further to 1.340.
Yesterday EURUSD rallied with a wide range and closed near the high of the day, in addition managed to close above the previous day high, suggesting a strong bullish momentum.
The pair is trading below the 10-day moving average that is acting as a dynamic resistance although is still trading above the 50 and the 200-day moving averages that act as a dynamic support.
The key levels to watch are: Daily resistance at 1.1556, other daily resistance at 1.1459, the 10-day moving average at 1.1434 (resistance), the 50-day moving average at 1.1325 (support) and a daily support at 1.1237.