EUR/USD steady near 1.1400
The euro is consolidating gains versus the US dollar as it continues to
trade near daily highs and close to the 1.1400 area, headed toward the
third gain in a row.
EUR/USD
started to rise on Friday during the American session and after a
modest pullback yesterday to 1.1270 gained momentum again. During the
actual American session, it reached at 1.1383 a fresh 6-day high and
then retreat finding support quickly at 1.1360.
It was trading at
1.1380, up 0.60% for the day near the end of the day. A weak US dollar
boosted the pair. Greenback is falling across the board across the board
with the DXY (Dollar Index) about to test April lows.
EUR/USD technical levels
To
the downside, relevant support levels might be located at 1.1345 (Asian
session high / Apr 12 low), 1.1335 (20-hour moving average), 1.1300/05
(daily low) and 1.1270 (Apr 18 low). On the opposite direction,
resistance could be seen at 1.1380/85 (daily high), 1.1400
(psychological) and 1.1450 (Apr 7 high).
