OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD clinging to 1.2940/43

FXstreet.com (Barcelona) - The EUR/USD has been relatively sideways during US trading given the observance of the Memorial Day holiday in the United States – as such the pair has been devoid of any catalysts or breakouts thus far.

In these moments, the pair has settled in nicely at the 1.2940/43 level during US trading Monday. As long as resistance for the EUR/USD at 1.3020 holds, there is scope for resumption of downside as bearish trend conditions persist. Support is at 1.2797 ahead of 1.2746, indicating a bearish outlook”.” notes Gareth Berry, a Research Analyst at UBS.

According to Axel Rudolph, an analyst at Commerzbank, “The EUR/USD looks to be range bound between last week’s low at 1.2821 and the 55 and 200-day moving averages at 1.2983/1.3023. In addition, key short-term resistance is seen along from the February peak, which is located at 1.3109.”

Flash: Will the yen depreciation finally rescue Japan from the specter of deflation? – RBS

The accelerated yen depreciation is starting to boost prospects of Japan finally overcoming deflation but also raising concerns about an adverse impact on the economy through higher costs.
Read more Previous

Flash: Australia strategy profile – Westpac

The Aussie is the whipping boy for USD bulls, with commodities struggling and domestic data leaving open RBA cut as soon as June.
Read more Next
Start livechat