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12 Aug 2014
EUR/USD recovers from lows
FXStreet (Córdoba) - The EUR/USD is staging a mild recovery after bouncing from the 1.3335 area as investors begin to look past soft ZEW data published earlier.
The EUR/USD bottomed out at 1.3335 Tuesday, halting the decline a few pips before its 2014 low, and managed to trim losses ahead of the Wall Street opening. At time of writing, the pair is trading at 1.3360, still down 0.18% on the day.
With no first-tier data scheduled for the rest of the day, FX market could follow the lead of equities and broad sentiment.
EUR/USD technical levels
As for technical levels, on the upside, the EUR/USD could find immediate resistances at 1.3390 (10-day SMA), 1.3410 (Aug 11 high) and 1.3432 (Aug 8 high). On the other hand, supports are seen at 1.3332 (2014 low Aug 6), 1.3300/1.3295 (psychological level/Nov 7 low) and not much till the 1.3250 area (mid-September lows).
The EUR/USD bottomed out at 1.3335 Tuesday, halting the decline a few pips before its 2014 low, and managed to trim losses ahead of the Wall Street opening. At time of writing, the pair is trading at 1.3360, still down 0.18% on the day.
With no first-tier data scheduled for the rest of the day, FX market could follow the lead of equities and broad sentiment.
EUR/USD technical levels
As for technical levels, on the upside, the EUR/USD could find immediate resistances at 1.3390 (10-day SMA), 1.3410 (Aug 11 high) and 1.3432 (Aug 8 high). On the other hand, supports are seen at 1.3332 (2014 low Aug 6), 1.3300/1.3295 (psychological level/Nov 7 low) and not much till the 1.3250 area (mid-September lows).