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EUR/USD lower on continued divergence

FXStreet (Guatemala) - EUR/USD is trading at 1.2785, down -0.46% on the day, having posted a daily high at 1.2865 and low at 1.2774.

EUR/USD is again lower on the basis that policy divergence between the Fed and ECB is propelling the greenback forward against the single unit currency. Key 1.2800 was taken out earlier but the unit has now stabilised as we progress into US trading. Markets are expecting a weaker currency as the ECB’s policy is geared to that outcome.

EUR/USD levels

With spot trading at 1.2787, we can see next resistance ahead at 1.2805 (Daily Classic S2), 1.2826 (Daily Classic S1) and 1.2828 (Hourly 20 EMA). Support below can be found at 1.2773 (Weekly Classic S1), 1.2767 (Daily Classic S3), 1.2716 (Weekly Classic S2) and 1.2605 (Weekly Classic S3).

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