Eur/usd - page 441

[deresel]

Key levels to watch for today:

Support: 1.1069; 1.0998;

Resistance: 1.1226; 1.1291.

  

[Ivan]

The euro fell yesterday to 1.1097, which is the lowest value since mid-March. The single currency, however, managed to rise to 1.1150 as it reached the 200-day moving average, which proved to be strong support. For the last month the euro decreased by 2.7%, which was the first after four months of growth.

[deresel]

The US dollar traded near its strongest levels in two months thanks to growing expectations of an impending increase in US interest rates. The greenback are quite sought after Friday's speech by Federal Reserve Chairman Janet Jelen that an increase in interest rates in the coming months would be appropriate if the economy and the labor market continue to improve.

[Ivan]

On Tuesday, the dollar continues to trade at two-month highs against other major currencies, as expectations of higher interest rates in the US next month, continues to support the national currency, while investors awaited the release of US statistics later in the session. The EUR/USD almost unchanged at 1.1136, compared with the 10-week low of 1.1097 on Monday.

[thenews]

EUR/USD Technical Analysis: Strong Resistance Ahead, Trend Bearish

The pair faces a strong resistance at $1.1180 and traded with a slightly bearish sentiment.

A major intraday resistance can be seen at $1.1155, which is a 21-day moving average at the 4-hour time frame, while the pair is supported by the 200-day moving average at $1.1100.

The single currency jumped as high as $1.11548 during the day and afterward it declined from that level. At noon in Europe the pair traded around $1.11320.

The short term trend is slightly weak as long as $1.1180, which is a 200-day moving average on the 1-hour chart, holds. Any break above $1.1180 would take the pair toward $1.12168 and $1.12427.

On the lower side, a major support is around $1.1100, and any break below would drag the pair toward $1.1050 and $1.1000.

Markets await Friday's nonfarm payrolls for further direction.

[Ari]

The EUR/USD is having a tough time today consolidating towards the level of 1.1150. Low volumes are a sign of tension building so you might want to be careful in the coming days as a sharp move might be coming.

[deresel]

The dollar rose slightly against a basket of major currencies on Tuesday after US economic data did not support expectations of an increase of the interest rate the Fed in June or July. The dollar index by 15.29 GMT+1 was trading at 95.829, down from a two-month peak of 95.968 reached on Friday. The euro rose to a session high of $ 1.1173, moving away from more than 10-weeks minimum set on Friday ($1.1096), but then fell to $ 1.1130.

[Veselka Nikolova]

US macro updates dragged EUR/USD to daily low at 1.1132 and the daily high couldn’t move above 1.1171. The pair is still under pressure around the support at 1.1100 (200-day EMA).

[thenews]

Downside Risks For EURUSD To Persist: Where To Target?

With the Fed taking a more hawkish tone recently, the policy divergence between the US and Europe has come into even sharper focus and should in turn weigh on the euro. Just as the US economy is picking up, European data appears to be turning in the opposite direction. Although we remain generally constructive, the composite PMI for May fell to 52.9, the lowest reading since January 2015, which have some doubting the effectiveness of recent ECB stimulus.The divergence in performance between Germany and other large Eurozone countries such as France has also widened again.

Meanwhile the inflation backdrop remains weak, and inflation expectations are still low, with the 5y5y swap remaining below 1.5%. The weak growth and inflation backdrop keeps pressure on the ECB to consider further stimulus, just as the Fed is moving closer to another rate hike. In light of these ongoing risks, the compression in net EUR short positions to only a quarter of the one-year moving average looks overdone.

As short positions get rebuilt, expect EURUSD to fall to 1.09 by September.

[Veselka Nikolova]

The euro recorded a volatile session against the dollar on Tuesday. Although the pair varied widely in the end opening price session was similar to the closing price, respectively, 1.1136 and 1.1131. Bulls prevailed in the early hours and  the peak for the day was marked at 1.1172. Short-term expectations remain in favour of the euro. Support is seen at  1.1069 and 1.0998. Resistance is located at 1.1226, followed by  1.1291.