EUR/USD steadies around 1.1050 into the NA open

Ani Salama FXStreet

After the surprise of the Brexit, markets have begun to quieten down, with EUR/USD finding a comfort zone just above 1.1000 over the last hours.

EUR/USD lost more than 500 pips from a peak of 1.1427 to a 3 ½-month low of 1.0911 during the Asian session as investors realize the Brexit was done deal. However, the shared currency managed to trim losses, but the bounce remained capped by the 1.1190 zone, putting the pair back on reverse.

The US dollar practically ignored recent data, which showed durable goods orders fell by 2.2% in May, missing by far expectations of a more modest decline of 0.5%.

EUR/USD technical levels

At time of writing, EUR/USD is trading at 1.1048, recording a 2.95% loss on Friday. Immediate supports are seen at 1.0911 (Jun 24 low) and 1.0821 (Mar 10 low). On the flip side, next resistances could be faced at 1.1188 (intraday resistance) and 1.1237 (100-day SMA).

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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