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EUR/USD hovers around 200-DMA while European stocks waver

FXStreet (Mumbai) - The EUR/USD pair recovered from the post-German IFO losses to trade in the sideways manner around its 200-DMA located at 1.1198 as the Europeans stocks swing between gains and losses.

Rejected at hourly 100-MA

The spot turned lower from its hourly 100-MA located at 1.1222 levels after the German IFO current assessment index ticked lower in September. However, the spot recovered back to its 200-DMA from 1.1184 as the European stocks fell back into moderate losses.

The US economic calendar offers weekly jobless claims and monthly durable goods order report today. Fed’s Yellen speech is also likely to dominate the wires later today.

EUR/USD Technical Levels

The immediate resistance is seen at 1.1222 (hourly 100-MA), above which gains could be extended to 1.1267 (hourly 200-MA). On the other side, support is seen at 1.1158 (hourly 50-MA) and 1.11 levels.

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