EUR/USD fails above 1.1100, revisits daily lows

The EUR/USD pair stalled last week’s bullish momentum and kicked-off a new week sharply lower, on the back of resurgence of USD buying as FBI cleared Clinton’s email cases again.

EUR/USD: Recovery remains capped by 1.1110                                             

Currently, EUR/USD trades -0.60% lower at 1.1073, retreating slightly from session lows struck at 1.1067 last hour. The EUR/USD pair witnessed quite a volatile Asian session, with a bearish opening gap quickly reversed, only to find fresh offers just ahead of 1.11 handle and the bears sent the rate sharply lower back towards daily lows.

The sentiment towards the US dollar picked-up significant pace this Monday after reports hit the wires that the FBI cleared Clinton of the emails case, noting that it’s more of carelessness than criminality. The FBI’s clearance once again lifted the odds for a Clinton win, with just two days remaining for the US presidential elections.

Meanwhile, markets now look forward to the German factory orders data lined up for release ahead of Europe open, which will be followed by Eurozone Sentix and retail sales data. While US calendar holds only the Labor market conditions report for fresh incentives.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.1100 (round figure/ 5-DMA). A break beyond the last, doors will open for a test of 1.1130 (100-DMA) and from there to 1.1195 (200-DMA). On the flip side, the immediate support is placed at 1.1041 (10-DMA) below which 1.1000 (psychological levels) and 1.10982 (Oct 13 low) could be tested.

To learn more about this topic, check our video analysis


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.

Feed news

Take advantage of market volatility with our daily Forex, Crypto and Indices Trade Ideas!

Become Premium!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD holds on to weekly gains, aims to 1.2100

EUR/USD pressures this week high at 1.2079 after the EU services sector moved back into expansion territory according to Markit, the first time since August.


GBP/USD extends decline towards the 1.3800 price zone

Upbeat UK data fell short of boosting the pound, hurt by Brexit jitters in Ireland. US macroeconomic figures making the difference in the dollar’s favor.


Bitcoin, Ethereum and XRP plummet, breaching critical support levels

Bitcoin price has dropped 12.7% since yesterday and shows no signs of stopping. Ethereum price follows the pioneer crypto’s lead and might retest $2,000 again. Unlike BTC or ETH, XRP price shows signs of recovery as long as it stays above a critical demand zone.

Read more

XAU/USD drops below $1,780 area as US T-bond yields rebound

Gold lost its traction after climbing toward $1,800 on Friday. 10-year US Treasury bond yield is up nearly 2%. Latest PMI data from US underlined strong price pressures.

Gold News

Bionano Genomics Inc runs into technical resistance, put options may work here

BNGO shares have continued to suffer post the retail meme crowd moving on. BNGO shares bounce from lows as DeMark buy signal flashes on Monday. BNGO shares trend up to resistance at 100 day moving average.

Read more