EURUSD – at the back foot after repeated upside rejection; focus on Trump’s news conference
|The Euro is at the back foot in early Wednesday’s trading following repeated upside rejection at 1.0600 zone (daily Kijun-sen line).
Asian trading was entrenched within narrow range (1.0535/65), contained by 30SMA for now, but yesterday’s bearish candle with long upper shadow weighs.
Mixed technicals see no clear near-term direction while the price is holding between daily Tenkan-sen / Kijun-sen pivots (1.0495 / 1.0605). Break of either side is needed to generate stronger signal.
Lift above 1.0605to expose 1.0668/1.0700 barriers, while loss of Tenkan-sen support would risk further easing.
Next pivot lies at 1.0450 (Fibo 61.8% of 1.0339/1.0625 recovery) below which would open key n/t support at 1.0339 (03 Jan low).
Trump’s press conference, due later today, is in focus
Res: 1.0605; 1.0625; 1.0668; 1.0700
Sup: 1.0535; 1.0509; 1.0495; 1.0448
Interested in EURUSD technicals? Check out the key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.