Intra-Day News and Views and data to be released today - EUR/USD

AceTrader Team AceTrader

Intra-Day Market Moving News and Views

Update Time: 26 Feb 2020 04:30GMT

EUR/USD - 1.0866... The single currency proved quite tricky to trade yesterday as despite initially rebounding 1.0867 in Asian morning, price dropped to session lows at 1.0831 ahead of New York open on cross-selling of euro especially vs sterling. However, the pair erased its losses and rallied to an intra-day high at 1.0890 in New York afternoon on usd's broad-based weakness before retreating to 1.0863 in Asia today on profit-taking.

Euro's break above Monday's high at 1.0871 to 1.0890 yesterday suggests upmove from last Thursday's near 3-year trough at 1.0778 has resumed and further gain to 1.0925 would be seen after consolidation, however, offers at 1.0950/60 would limit current rise and yield a much-needed correction later.

There isn't much to report on the data front from the eurozone but there are a few speakers from the European Central Bank scheduled to speak today, including President Christine Lagarde at 13:30GMT

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