Eur/usd - page 396
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there was not much movement on the EUR/USD today, the pair is still trying to test 1.1100 levels.
ECB Eurozone current account Dec SA +€25.5bln vs +€26.9bln prev
Softer headline but inflows supporting the euro demand.
The single currency depreciated against its US rival on Wednesday after minutes of the Federal Reserve in January gave little indication of whether the US central bank will accelerate the pace of tightening interest rates in the near future.
The minutes of the meeting showed that instability in global financial markets and sluggish inflation expectations have led the US central bank to leave unchanged the way to increase the interest rate.
Yesterday the EURUSD went back and forward with a wide range and closed in the middle of the daily range, in addition closed within the previous day range, suggesting lack of momentum.
The pair is trading below the 10-day moving average acting as dynamic resistance however is still trading above the 50 and the 200-day moving averages that are acting as dynamic support.
The key levels to watch are: The daily resistances at 1.1460, other daily resistance at 1.1237, the 10-day moving average at 1.1213 (resistance), a daily support at 1.1097, and the 200-day moving average at 1.1026 (support).
The euro recorded a consecutive neutral session against the dollar on Wednesday. The pair remained on the known levels reached earlier in the week. Short-term indicators are in favor of the single currency and if they are come true, the resistance at 1.1235 will be broken. Trading started at a price of 1.1142 as at the beginning bulls prevailed but finally the session closed with 16 pips lower.
Support: 1.1085; 1.1064;
Resistance: 1.1235; 1.1387.
Another day with the EUR/USD trading at the open price.
The EUR/USD moving down to the 1.1000 level if it is break below 1.1064 support level.
EUR/USD: Euro Ticks Higher From 2-Wk Low on Technical Aide The euro currency paired its earlier losses against the greenback on Thursday afternoon amid a set of new macro updates, namely upbeat initial jobless claims, while on the upside, the manufacturing activity in the Philadelphia area contracted for the third consecutive month.
Therefore, the EUR/USD pair climbed from the two-week low of $1.1071 reached during the US market hours as the result of the buck's regained strength, boosted by improving market sentiment.
"Oil prices are starting to stabilize, which is also helping stabilize the stock market," Tempus Consulting in Washington currency trader Juan Perez mentioned. "Investors are also now seeing that things in the United States are chugging along with generally positive US data. So good data plus a recovery in stocks and oil are helping the dollar," he added.
Meanwhile, the euro received significant technical support once the cross moved closer to the 200 day moving average standing around the $1.1050 line, which served as the major support for two months since the beginning of December.
In the afternoon, the EUR/USD was seen 0.11% lower at $1.1116, gaining back approximately 40 pips from an intraday low.
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The single currency marked a slight decrease against the dollar on Thursday. The euro broke the neutral two-day series and continued the negative trend from the end of last week. As a result, the support at 1.1085 was broken. Expectations, however, remain in favor of the euro and bullish sentiment. The session started at 1.1126 and closed with 21 pips lower. Bottom of the day was hit at 1.1071.