Back
22 Apr 2016
EUR/USD hits fresh lows but remain above 1.1230
EUR/USD dropped marginally below previous daily lows and bottomed at 1.1244, hitting the lowest level in a week. Currently is attempting to move off session lows and is trading above 1.1260, 20 pips below the level it closed yesterday.
EUR/USD levels to watch
The pair has been able to hold above the 1.1230 area, where last week lows area located. That area is mentioned by many analysts as a key short-term support and a break lower could trigger a bearish acceleration.
The next relevant level to the downside could be the 1.1050 - 1.1070 that is where the 20-day moving average stands and also December highs.
On a weekly basis, the pair is falling again, but as mentioned it did not reach fresh April lows. The downside remains limited but the euro is still facing pressure. The upside continues to be capped by the 1.1350 - 1.1400 area.
EUR/USD levels to watch
The pair has been able to hold above the 1.1230 area, where last week lows area located. That area is mentioned by many analysts as a key short-term support and a break lower could trigger a bearish acceleration.
The next relevant level to the downside could be the 1.1050 - 1.1070 that is where the 20-day moving average stands and also December highs.
On a weekly basis, the pair is falling again, but as mentioned it did not reach fresh April lows. The downside remains limited but the euro is still facing pressure. The upside continues to be capped by the 1.1350 - 1.1400 area.