EUR/USD Attempting Break Above 1.14
EUR/USD
bounced back from hourly 200-MA and is now attempting a break above
1.14 handle amid positive action in the European equities and US index
futures.
Eyes Fed speak
Traders now await
comments from Fed’s William Dudley, who is more likely to state
possibility of two rate hikes this year, but maintain cautious approach
is necessary. Traders would also keep an eye on US Treasury Secretary
Jack Lew’s comments.
As of now the spot is trading just around
1.14 handle after having rebounded from hourly 200-MA which has capped
losses in the pair since April 7th.
EUR/USD Technical Levels
The
immediate hurdle is noted around 1.1454 (Apr 7 high), above which the
spot could test 1.15 handle. A break higher would expose 1.1561 (Aug 26
high). Conversely, a breakdown of immediate support at 1.14 would open
doors for a drop to 1.1379 (hourly 200-MA). A violation there would
expose 1.13 levels.
(Market News Provided by FXstreet)
