The EUR/USD pair keeps its range near daily tops of 1.1159, and manages to regain the bids amid a broadly subdued US dollar and treasury yields.
EUR/USD: Eyes on EUR/GBP amid Brexit talks
The spot is on a tepid recovery path so far this session, having found buyers once again near 1.1135-40 band, as the USD bulls take a breather after yesterday’s hawkish Fedspeak-led massive upsurge. Meanwhile, slightly weaker treasury yields across the curve also helps keep the bid tone intact around EUR/USD.
However, the major may not sustain the bounce as the Euro continues to suffer from a dovish ECB outcome, while the greenback may resume its upbeat momentum versus its main competitors, underpinned by hawkish comments from the FOMC member Dudley.
In the day ahead, the spot will closely track the USD dynamics and EUR/GBP price-action, in the wake of upcoming Fedspeaks and ongoing Brexit talks, while the economic calendar remains relatively light, except for the second-tier current account data from both continents.
EUR/USD Technical Levels
Karen Jones, Analyst at Commerzbank noted: “The Euro has failed at the 20 day ma and again sold off to the base of the channel at 1.1138. Rallies are struggling to overcome the 20 day ma at 1.1208 and we look for failure here. Below 1.1138 channel should be enough to trigger losses to the 1.1070/23.6% retracement of the move higher this year and then the 55 day ma at 1.0986.”
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 securities. 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 Forex 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.