OctaFX | OctaFX Forex Broker
Open trading account

EUR/USD prints highs near 1.1320

FXStreet (Edinburgh) - The greenback keeps losing ground today, pushing EUR/USD to fresh daily peaks in the vicinity of 1.1320.

EUR/USD stronger ahead of ECB

The bid tone around the European funding currency keeps growing bigger today, prompting spot to challenge 2-week tops in the boundaries of 1.1320. The pair has quickly shrugged off poor results from the German trade balance, gathering further traction against the backdrop of a softer tone in European equities so far.

Next of relevance for EUR will be the ECB Accounts, where the ongoing QE programme will take centre stage amidst rumours of a potential increase in the monthly purchases of bonds or an extension beyond September 2016.

EUR/USD levels to watch

As of writing the pair is advancing 0.58% at 1.1303 and a breakout of 1.1330 (high Sep.21) would target 1.1460 (monthly high Sep.18) and then 1.1714 (high post-PBoC move Aug.24). On the flip side, the immediate support lines up at 1.1216 (55-d sma) followed by 1.1163 (2-month up trend) and then 1.1107 (monthly low Sep.23).

USD/JPY: Recovery stalls at hourly 10-SMA

The extended USD/JPY three-day decline took a pause near 119.60 levels and attempts a weak recovery towards the hourly 10-SMA.
Read more Previous

Ireland HICP (MoM) fell from previous 0.3% to -0.5% in September

Ireland HICP (MoM) fell from previous 0.3% to -0.5% in September
Read more Next
Start livechat