26 May 2015
EUR/USD falls 1% on the day
FXStreet (Córdoba) - EUR/USD consolidates at 1-month lows after having fallen nearly 120 pips throughout the day as the dollar extended gains propelled by supportive US durable goods orders data.
Following a sharp drop at the beginning of the New York session, EUR/USD continued to inch lower and posted its lowest level in a month at 1.0863. At time of writing, the pair is trading at 1.0865, recording a 1.0% loss on the day.
The dollar has been supported by growing expectations the Fed will raise rates sooner following the recent patch of US economic data and comments from Fed Chairwoman Janet Yellen.
EUR/USD technical levels
In terms of technical levels, EUR/USD could find immediate supports at 1.0859 (Apr 28 low), 1.0819 (Apr 27 low) and 1.0800 (psychological level). On the other hand, resistances are seen at 1.0939 (intraday level), 1.0980 (daily high) and 1.1000 (psychological level).
Following a sharp drop at the beginning of the New York session, EUR/USD continued to inch lower and posted its lowest level in a month at 1.0863. At time of writing, the pair is trading at 1.0865, recording a 1.0% loss on the day.
The dollar has been supported by growing expectations the Fed will raise rates sooner following the recent patch of US economic data and comments from Fed Chairwoman Janet Yellen.
EUR/USD technical levels
In terms of technical levels, EUR/USD could find immediate supports at 1.0859 (Apr 28 low), 1.0819 (Apr 27 low) and 1.0800 (psychological level). On the other hand, resistances are seen at 1.0939 (intraday level), 1.0980 (daily high) and 1.1000 (psychological level).