OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD bouncing off lows, around 1.2865/70

FXstreet.com (Barcelona) - After bottoming in the boundaries of 1.2850, the single currency is now picking up pace and regaining the area around 1.2865/70 albeit trading in the red territory.

In the data front, yields in the Spanish auctions of 3m and 9m Letras have ticked higher, adding to the downside. “While EUR/USD should eventually move lower from here, we think it is still too early for broad-based USD strength”, commented Senior Analyst A.Lumholtz at Danske Bank.

At the moment, the cross is losing 0.09% at 1.2870 facing the next support at 1.2862 (hourly low May 21) ahead of 1.2809 (low May 20) and then 1.2796 (low May 17).
On the upside, a breakout of 1.2930 (high May 16) would aim for 1.2943 (high May 15) and finally 1.2947 (MA10d).

AUD/USD – dropping below 0.9800

AUD/USD has steadily fallen since the European open and from session highs of 0.9843 to below the figure to test support lines at 0.9787/90.
Read more Previous

Flash: RBNZ’s survey of 2yr inflation lowest level since Q4 1999 – TD Securities

Research teams at TD Securities noted that the net migration doubled to 4,960 in April, from 2,460, on a 12m cumulative basis and said this was a positive for domestic demand.
Read more Next
Start livechat