EUR/USD Bounces from Lows sub-1.1300

EUR/USD Bounces from Lows sub-1.1300

27 April 2016, 14:49
Roberto Jacobs
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EUR/USD Bounces from Lows sub-1.1300

EUR/USD retreated from daily highs and briefly dipped below the 1.13 mark, although the pair managed to quickly regain the psychological level.

EUR/USD slid to the 1.1290 area at the beginning of the American session but turned higher and rose to 1.1320 despite better-than-expected US trade data. At time of writing, the pair is trading at 1.1315, off the European session peak of 1.1332 but still 0.18% above its opening price.

Meanwhile, market attention remains on the Fed’s monetary policy decision to be announced at 18:00 GMT.

EUR/USD levels to watch

In terms of technical levels, if EUR/USD breaks above 1.1339 (Apr 26 high), next resistances line up at 1.1394 (Apr 21 high) and 1.1464 (Apr 14 high). On the other hand, supports are seen at 1.1214 (Apr 25 low), 1.1193 (50-day SMA) and 1.1144 (Mar 24 low).


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