EUR/USD Current price: 1.1252

  • Markets slowly resuming activity after an extended Easter Holiday.
  • Equities under pressure ahead of the opening, earnings reports awaited.

The EUR/USD pair advanced a handful of pips in ultra-thin market conditions, reaching a daily high of 1.1254, barely 15 pips above its Friday's close. The FX market has seen little action ever since last Thursday as most markets were closed on Easter holidays, with such market's conditions persisting through Monday, European session. US markets will resume activity after the long weekend, although action is expected to remain limited as investors slowly return to their desks and as there are no relevant data scheduled for release. The macroeconomic calendar remained empty in the Union, while the US just released the Chicago Fed Manufacturing Activity Index, which resulted in -0.15 in March, better than the previous -0.31. Pending of release are Existing Home Sales for March, expected to have declined by 2.3%MoM.

Ahead of the opening, US indexes trade in the red, rather affected by earnings reports than dismal market sentiment, as optimism persists about the country's economic health.

As for the technical picture of the pair, the price is currently battling with the 50% retracement of its latest bullish run measured between 1.1183 and 1.1323. In the 4 hours chart, a horizontal 100 SMA converges with the mentioned Fibonacci level, while the 20 SMA maintains a strong bearish slope above it. Technical indicators keep recovering from oversold levels, but advancing modestly within negative levels, falling short of suggesting the pair could continue rallying. The pair would need to firm up above 1.1280, a strong static resistance level, to extend its advance up to the top of the range, while below 1.1200 the yearly low at 1.1175 comes as the next support/bearish target.

Support levels: 1.1200  1.1175 1.1130

Resistance levels: 1.1280 1.1320 1.1350  

View Live chart for the EUR/USD


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.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex Analysis

Editors’ Picks

EUR/USD: Bullish breakout faces next challenge at 1.1150

The EUR/USD pair closed the week at around 1.1100, its highest settlement in two months, as poor US data coupled with a relief rally of high-yielding assets ahead of the close. Several European countries will start the week celebrating a holiday.


GBP/USD: Post-Brexit relationship taking centre stage

The GBP/USD pair hit 1.2393 on Friday, a two week high, retreating sharply from the level ahead of Trump’s speech to later recover on relief and settle at 1.2345. Cable is technically neutral, although the bullish potential seems limited.


Cryptocurrencies: $348M in matured derivatives boost the market

Futures and options contracts' expiration brings a wave of volatility to the crypto market. Ethereum takes advantage and attacks resistances in the market dominance chart, Bitcoin goes back. Ripple disappoints despite regaining the third place in market capitalization.

Read more

Canada's economy falls by 8.2% annualized in Q1, better than expected, USD/CAD shakes

The Canadian economy squeezed by an annualized rate of 8.2% in the first quarter of 2020, better than -10% expected. Quarterly, Gross Domestic Product (GDP) squeezed by 2.1%. Most of the downfall occurred in March, with a drop of 7.2%, better than 8.5% projected. 

Read more

WTI drops 4% and eyes $32 mark amid risk-off, weakening demand

The selling pressure around WTI (July futures on Nymex) accelerates following the break below the 33 level, as bears now target the 32 support zone heading into the key US macro data and US President Donald Trump’s response to the Hong Kong issue.

Oil News

Forex Majors