OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD skyrockets as USD slumps

FXstreet.com (Córdoba) - The EUR/USD gained over 140 pips since the beginning of the American session and having left several resistance levels behind, it recently printed a 1-month high above 1.3100.

EUR/USD staged an impressive rally propelled by an unexpected contraction in the US manufacturing sector and reached a high of 1.3107 before slowing just ahead of the 100-day SMA.

At time of writing, EUR/USD is trading at the 1.3080/90 area, where it records a 0.7% gain on the day. Above 1.3110 (100-day SMA), next resistance is seen at 1.3175 (May 9 high).

Flash: ECB, BoJ amplify efforts given higher US yields – UBS

According to Research Analyst Gareth Berry at UBS, “The recent environment of higher US yields should even help amplify easing efforts by the ECB and BoJ via wider policy differentials through rate cuts and/or balance sheet measures.”
Read more Previous

GBP/USD in highs around 1.5350

The sterling has quickly left behind the 1.5300 handle after the lacklustre ISM manufacturing result in the US economy disappointed investors...
Read more Next
Start livechat