29 May 2014
EUR/USD hits fresh lows amid thin liquidity
FXStreet (Córdoba) - The EUR/USD is back under pressure early European session after the latest recovery attempt was capped by the 1.3610 area.
The EUR/USD recovered somewhat from yesterday’s lows but failed to hold above the 1.3600 mark and fell to fresh 3-month lows as the greenback gathers pace against its European peers with moves probably exacerbated by low volatility as many European markets are closed due to the Ascension Day.
The EUR/USD is currently trading at the 1.3590 area, virtually unchanged since opening, having hit a low of 1.3585 so far. There is no data scheduled until the American session when the US will release the Q1 GDP revision, jobless claims and pending home sales data.
EUR/USD levels to watch
As for technical levels, if the EUR/USD breaks decisively below 1.3585, next supports could be found at 1.3561 (Feb 12 low) y 1.3520 (Fibo 38.2% of 1.2757/1.3993). On the flip side, resistances are now seen at 1.3609 (intraday high), 1.3637 (200-day SMA), 1.3668 (May 27 high) and then 1.3687 (May 22 high).
The EUR/USD recovered somewhat from yesterday’s lows but failed to hold above the 1.3600 mark and fell to fresh 3-month lows as the greenback gathers pace against its European peers with moves probably exacerbated by low volatility as many European markets are closed due to the Ascension Day.
The EUR/USD is currently trading at the 1.3590 area, virtually unchanged since opening, having hit a low of 1.3585 so far. There is no data scheduled until the American session when the US will release the Q1 GDP revision, jobless claims and pending home sales data.
EUR/USD levels to watch
As for technical levels, if the EUR/USD breaks decisively below 1.3585, next supports could be found at 1.3561 (Feb 12 low) y 1.3520 (Fibo 38.2% of 1.2757/1.3993). On the flip side, resistances are now seen at 1.3609 (intraday high), 1.3637 (200-day SMA), 1.3668 (May 27 high) and then 1.3687 (May 22 high).