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19 May 2015
EUR/USD takes a breather after steep fall
FXStreet (Córdoba) - EUR/USD consolidates near daily lows and it is about to close its second day in a row with losses following dovish comments from an ECB official and better than expected US data.
EUR/USD lost nearly 200 pips throughout the day, broke below its 100-day SMA and hit a 2-week low of 1.1118 during the American session. The pair has managed to recover a few pips over the last hours and it is currently trading at the 1.1155 zone, still 1.39% below its opening price.
Tomorrow, the FOMC minutes will be the risk event during the New York session, while Friday’s US inflation numbers will be closely watched by investors.
EUR/USD technical levels
In terms of technical levels, immediate supports are seen at 1.1118 (daily low), 1.1100 (psychological level) and 1.1066 (May 5 low). On the flip side, resistances are seen at 1.1175 (100-day SMA), 1.1285 (10-day SMA) and 1.1300 (psychological level).
EUR/USD lost nearly 200 pips throughout the day, broke below its 100-day SMA and hit a 2-week low of 1.1118 during the American session. The pair has managed to recover a few pips over the last hours and it is currently trading at the 1.1155 zone, still 1.39% below its opening price.
Tomorrow, the FOMC minutes will be the risk event during the New York session, while Friday’s US inflation numbers will be closely watched by investors.
EUR/USD technical levels
In terms of technical levels, immediate supports are seen at 1.1118 (daily low), 1.1100 (psychological level) and 1.1066 (May 5 low). On the flip side, resistances are seen at 1.1175 (100-day SMA), 1.1285 (10-day SMA) and 1.1300 (psychological level).