EUR/USD Turns Intraday Positive

EUR/USD Turns Intraday Positive

10 May 2016, 16:28
Roberto Jacobs
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EUR/USD Turns Intraday Positive

EUR/USD has managed to erase intraday losses at the beginning of the New York session, after finding support at the 20-day SMA.

EUR/USD hit a fresh 2-week low of 1.1358 during the European trade and it has been edging slowly higher ever since, tuning intraday positive. It recently reached a session high of 1.1394 and now trades nearby, a few pips above its opening price.

There is no first-tier data scheduled for the rest of the day, leaving FX market driven mostly by sentiment.

EUR/USD levels to watch

In terms of technical levels, immediate supports are seen at 1.1358 (20-day SMA/May 10 low), 1.1297 (Apr 29 low) and 1.1271 (50-day SMA). On the other hand, resistances line up at 1.1419 (May 9 high/10-day SMA), 1.1478 (May 6 high) and 1.1529 (May 4 high).


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