EUR/USD Resumes the Slide, Hits Fresh Daily Lows
The US dollar is recovering ground, especially against European
currencies, following a short-lived setback in the wake of disappointing
US data.
EUR/USD made
a bounce attempt at the beginning of the New York session, but it
failed to sustain above the 1.14 level and turned south, falling all the
way to a fresh daily low of 1.1371 in recent dealings. At time of
writing, the pair is trading at 1.1375, 0.44% lower on the day.
EUR/USD technical levels
In terms of technical levels, immediate supports are seen at 1.1365
(20-day SMA), 1.1297 (Apr 29 low) and 1.1290 (50-day SMA). On the other
hand, resistances line up at 1.1445 (May 11 high), 1.1478 (May 6 high)
and 1.1529 (May 4 high).
