EUR/USD steady near 1.1400

EUR/USD steady near 1.1400

19 April 2016, 20:21
Roberto Jacobs
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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).


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