EUR/USD moves to session tops near 1.1360

  • The pair gains extra ground and tests highs around 1.1360.
  • The greenback intensifies the daily leg lower to 96.70.
  • Brexit headlines stay behind the up move in the riskier assets.

The renewed and moderate selling bias around the greenback is helping EUR/USD to extend the rebound from yesterday’s lows in the 1.1300 region.

EUR/USD up on Brexit optimism, looks to data

After three consecutive daily pullbacks, the pair has regained some buying interest and is now flirting with daily highs in the 1.1360 zone.

Auspicious headlines around Brexit gave the risk-associated universe a much-needed lift, motivating spot to bounce off multi-week lows in the 1.1300 neighbourhood to the current 1.1350/60 band.

In fact, UK’s D.Raab said on Wednesday that a Brexit deal could be clinched by 21st November, while news that PM May could have reached a deal on financial services with the EU also added to the upbeat sentiment.

Looking ahead, the Bank of England event will be the salient event later in the Old Continent, whereas the critical ISM Manufacturing will grab all the attention across the pond along with the usual report on the US labour market.

EUR/USD levels to watch

At the moment, the pair is up 0.40% at 1.1357 facing the next hurdle at 1.1401 (10-day SMA) seconded by 1.1467 (21-day SMA) and finally 1.1550 (high Oct.22). On the other hand, a break below 1.1302 (low Oct.31) would target 1.1299 (2018 low Aug.15) en route to 1.1118 (monthly low Jun.20 2017).


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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD hits fresh three-week lows as optimism from German data fades

EUR/USD has hit a fresh three-week low below 1.1070 as optimism from better-than-expected German PMIs fades. The data still points to a downturn. Tension mounts ahead of Fed's Powell critical speech on Friday.


GBP/USD surges above 1.2200 on Merkel's Brexit optimism

GBP/USD is trading above 1.2250, at the highest this month after German Chancellor Merkel said a solution to the Irish backstop can be found by October 31st. UK PM Johnson is meeting French President Macron.


USD/JPY: Weaker below 106.50, focus on T-yields ahead of Powell

USD/JPY trades weaker below the 106.50 level, tracking the negative S&P 500 futures and a cautious sentiment on the Asian equities, as attention shifts from the FOMC minutes to the Fed's Powell speech for fresh direction. 


Gold plummets to fresh nine-day lows near $1,492 on surging US T-bond yields

The XAU/USD pair came under renewed bearish pressure in the last hour and broke below the critical $1,500 as the rising US Treasury bond yields made it difficult for the safe-haven gold to find demand.

Gold News

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: BTC to $50,000 or Gold to $5,000? Current crypto levels to watch

"Gold will reach $5,000" claimed Peter Schiff, a crypto critic, and a gold bug. "Bitcoin will reach $50,000," said Tom Lee. Both influences clashed on social media and on television about future prices. 

Read more