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).
