OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD recovery stalled at 1.2780

FXStreet (Edinburgh) - The selling interest is confining the shared currency to the lower band of the intraday range so far, with EUR/USD currently hovering over the mid-1.2700s.

EUR/USD looking for catalysts

Spot remains in the red territory on Tuesday, coming down from session tops near 1.2840 following ECB speculations regarding the purchase of corporate bonds. Rumours remain yet unconfirmed, limiting in consequence the ability of the pair to gather traction and return to initial higher levels. On a longer-term view, Chief Analyst Thomas Harr at Danske Bank suggested, “We expect EUR/USD to rebound on a six- to 12-month horizon as eurozone deflation risks disappear and the growth differential between the US and eurozone narrows”

EUR/USD key levels

As of writing the pair is down 0.44% at 1.2743 facing the immediate support at 1.2731 (low Oct.20) followed by 1.2712 (21-d MA) and then 1.2705 (low Oct.16). On the upside, a break above 1.2838 (high Oct.21) would open the door to 1.2845 (high Oct.16) and finally 1.2887 (high Oct.15).

GBP/USD hovers around 1.6050

GBP/USD trades little changed on the day ahead of the Wall Street opening, as failure to break above the 1.6185 area left Cable searching for direction.
Read more Previous

Natural gas continues to trade weak

Natural gas continues to trade near 2014 lows as mild weather is likely to curb heating demand for fuel during the peak season of winter.
Read more Next
Start livechat