EUR/USD extends bounce to 1.3125

FXStreet (San Francisco) - Earlier in the day, the Euro found support at neary 1-year lows around 1.3110 after a 25-pip decline versus the US Dollar. Then the pair bounced and now it is pricing above the 1.3125 area.

Currently, EUR/USD is trading at 1.3123, down -0.04% on the day, having posted a daily high at 1.3138 and low at 1.3110. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.

EUR/USD sentiment

"EUR/USD is staging a modest rebound as key supports at the 1.3100/05 hold amid short-covering in EUR/GBP and EUR/JPY this morning," Jamie Coleman from FXBeat comments. "Given the very orderly decline in recent weeks, expect the area of resistance between 1.3145 and 1.3160 to keep a lid on rebounds."