EUR/USD hits fresh highs but remains limited under 1.1100


  • US dollar remains under pressure against majors, extends losses. 
  • EUR/USD holds near the 1.1100 area, still unable to break above. 

The EUR/USD pair printed a fresh weekly higher during the American session at 1.1092 but quickly pulled back under 1.1090. Near the end of the session, it continues to move sideways, holding to recent gains. 

US dollar down across the board but EUR/USD fails to extend rally 

The greenback dropped on Tuesday amid lower US yields. Also, BBVA analysts noted “market expectations of further rate cuts by the Federal Reserve increased.” The DXY fell for the third day in a row, extending the reversal from monthly highs toward the 97.50 area, to test mid-November lows. 

The EUR/USD pair failed to benefit from the decline of the greenback. It held in the 1.1090/1.1065 range, limited by a soft euro. The common currency lost ground against its main European rivals. The EUR/CHF pair dropped to the lowest in two weeks under 1.0940 amid rising demand for safe haven

Trade developments added concerns among investors. US President Trump said on Tuesday that a deal with China may have to wait until after the 2020 elections and threatened to impose tariffs on French goods in response to a digital tax.  Stocks are falling sharply in the US, adding to Monday’s slide. The Dow Jones slides 1.25% and the S&P 500 0.92%. 

Levels to watch 

The momentum still favors the upside in EUR/USD, but it needs to break and consolidate above the 1.1090/1.1100 band in order to clear the way to more gains. The next target is located around 1.1125/30. On the downside, the immediate strong support is seen at 1.1060/65 (lower limit of the current range) and 1.1045. 

 

EUR/USD

Overview
Today last price 1.1084
Today Daily Change -0.0001
Today Daily Change % -0.01
Today daily open 1.1085
 
Trends
Daily SMA20 1.1039
Daily SMA50 1.1043
Daily SMA100 1.1074
Daily SMA200 1.1164
 
Levels
Previous Daily High 1.1091
Previous Daily Low 1.1002
Previous Weekly High 1.1034
Previous Weekly Low 1.0981
Previous Monthly High 1.1176
Previous Monthly Low 1.0981
Daily Fibonacci 38.2% 1.1057
Daily Fibonacci 61.8% 1.1036
Daily Pivot Point S1 1.1028
Daily Pivot Point S2 1.0971
Daily Pivot Point S3 1.0939
Daily Pivot Point R1 1.1117
Daily Pivot Point R2 1.1148
Daily Pivot Point R3 1.1205

 

 

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