EUR/USD Remains Capped by 1.1330

EUR/USD Remains Capped by 1.1330

27 April 2016, 16:39
Roberto Jacobs

EUR/USD Remains Capped by 1.1330

EUR/USD remains capped by the 1.1330 area, unable to extend gains beyond that level despite several attempts over the last sessions.

EUR/USD has been seesawing around the 1.1300 level as market focus remains on the Federal Reserve monetary policy decision to be announced at 18:00 GMT. However, the euro is holding onto modest daily gains versus its American counterpart despite encouraging US data.

US goods trade balance showed a 57B deficit versus the 62.5B deficit expected in March, while pending home sales rose 1.4% in the same period against expectations of a 0.5% increase.

EUR/USD technical levels

At time of writing, the pair is trading at 1.1318, up 0.2% on the day. In terms of technical levels, next resistances are seen at 1.1339 (Apr 26 high), 1.1394 (Apr 21 high) and 1.1464 (Apr 14 high). On the flip side, immediate supports could be found at 1.1214 (Apr 25 low), 1.1193 (50-day SMA) and 1.1144 (Mar 24 low).


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