EUR/USD Bounces Off Lows, Struggles to Regain 1.1400

EUR/USD Bounces Off Lows, Struggles to Regain 1.1400

12 May 2016, 16:26
Roberto Jacobs
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EUR/USD Bounces Off Lows, Struggles to Regain 1.1400

EUR/USD bounces off daily lows and managed to trim intraday losses at the beginning of the New York session.

After being rejected from the 1.1445 zone on Wednesday, EUR/USD corrected lower and bottomed out at 1.1377 ahead of the Wall Street opening. However, the euro managed to take back some intraday losses following pound’s lead, and climbed back towards 1.1410 in recent dealings.

EUR/USD levels to watch

As for technical levels, immediate resistances are seen at 1.1445 (May 11 high), 1.1478 (May 6 high) and 1.1529 (May 4 high). On the flip side, supports could be found at 1.1360 (20-day SMA), 1.1297 (Apr 29 low) and 1.1290 (50-day SMA).


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