EUR/USD Current Price: 1.1311

  • A better market mood made safe-haven currencies gave back some of Friday's gains.
  • German Business Climate improved in March despite discouraging macroeconomic figures.

The EUR/USD pair peaked at 1.1331, settling around 1.3110 by the end of the day. The advance was a mixture of a positive German report and easing dollar demand as the dismal performance of equities that started Friday came to a halt during London trading hours, with Wall Street posting a modest intraday slide, off its daily lows. As for data, the German IFO survey showed that the Business Climate Index rose to 99.6 in March from an upwardly revised 98.7 in the previous month. The Current Assessment improved to 103.8 while Expectations surged to 95.6, all of them beating the market's consensus. The US released the Chicago Fed National Activity Index which came in at-0.29 in February, while January's figure was upwardly revised to -0.25 from -0.47, and the Dallas Fed Manufacturing Business Index for March, which printed 8.3, better than the 7.0 expected.  The pair retreated ahead of the close amid the absence of a bullish catalyst and a heavy Pound.

Tuesday will bring the German GFK Consumer Confidence Survey, seen at 10.8 in April, unchanged from the previous month, while the US will release Housing Starts and Building Permits for February, and the latest CB Consumer Confidence Index.

The EUR/USD pair is struggling now around the 50% retracement of the 1.1175/1.1447 rally, with this Monday's recovery looking corrective after Friday's slump, as technical indicators in the 4 hours chart have recovered from oversold readings, with the Momentum heading higher well below its mid-line and the RSI having already lost upward strength,  now consolidating around 45. Furthermore, the pair was unable to clear the 100 and 200 SMA, which anyway lack directional strength, and continues developing below a bearish 20 SMA, which now nears the 38.2% retracement of the mentioned rally, reinforcing the strength of the static resistance level at 1.1445.

Support levels: 1.1280 1.1230 1.1190

Resistance levels: 1.1345 1.1385 1.1420

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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD directionless just above 1.1200

The EUR/USD pair has started the week gapping lower amid tensions in the Middle East giving the greenback an extra lift. ECB monetary policy decision later this week weighing on the shared currency.


GBP/USD depressed but off daily lows

The Sterling came under selling pressure on news that Sir Alan Duncan has resigned as foreign office minister in the middle of a conflict with Iran. Tensions mounts ahead of Tories’ leadership definition.


USD/JPY remains in daily range below 108 following Kuroda comments

The USD/JPY pair is having a hard time finding direction in the second half of the day and continues to move sideways below the 108 mark.


Altcoins are set up to hunt for Bitcoin

Among the main Altcoins, only Ethereum is yet to be crossed upwards. XRP moves in another ecosystem and will not pull the market. Libra may be positive, not a danger to the market.

Read more

Gold in search of a firm direction, stuck in a range below $1430 area

Gold extended its sideways consolidative price action through the mid-European session on Monday and remained confined in a narrow trading band, around the $1425 region.

Gold News