EUR/USD recovers further, 1.10 on sight?

FXStreet (Edinburgh) - The common currency keeps paring initial losses after hitting lows near 1.0960 in early trade, with EUR/USD now testing the 1.0980 area.

EUR/USD correcting from 1.1500

The pair is retreating for the second consecutive session on Monday, prolonging its rejection from recent mutli-week tops in the boundaries of 1.1500 the figure posted in mid-May.

The pair keeps the trade below the 1.1000 handle so far, amidst a combination of Greek headlines and scarce volatility due to the holidays in Euroland and the US. Next of relevance will be the speeches by Fed’s Vice-Chairman S.Fischer and Cleveland Fed’s President L.Mester.

EUR/USD levels to consider

As of writing the pair is down 0.23% at 1.0985 with the immediate support at 1.0959 (low May 25) ahead of 1.0922 (5055-d MA) and then 1.0860 (low Apr.28). On the other hand a breakout of 1.1062 (low May 20) would aim for 1.1208 (high May 22) and then 1.1217 (38.2% of 1.1468-1.1062).

Gold remains flat around USD 1204/Oz

Gold prices continue to trade dead flat around USD 1204/Oz levels amid lack of fresh fundamental triggers and thin volumes on account of trading holiday in Europe and US.
了解更多 Previous

Monetary policy is second-line defense against bubbles – Fed’s Mester

Federal Reserve Bank of Cleveland President Loretta Mester, in her speech at Iceland on Monday, said it is better for authorities to use regulatory and supervisory powers to deal with final imbalances, rather than monetary policy.
了解更多 Next