EUR/USD extends the bounce towards 1.1350
- Fresh USD selling, Italian budget optimism lifts EUR/USD northwards.
- Awaits Eurozone final CPI for near-term trading opportunities.
The EUR/USD pair is on a steady rise above the 1.13 handle so far this Monday, with the bulls having gathered strength in Europe, as the US dollar correction across the board regains momentum.
The greenback hit 19-month highs versus its main competitors at 97.71 on Friday, after China slowdown fears intensified following weaker Chinese macro data and propped up safe-haven bids for the US dollar. The USD index now extends the retreat to 97.30 levels, down -0.13% on the day.
Moreover, the bid tone around the common-currency can be also attributed to the renewed optimism around the Italian budget after ANSA reported overnight that the Italian coalition leaders have reached an agreement over the budget accord.
Furthermore, a bout of profit-taking cannot be ignored in the EUR/USD pair, as markets look to cover their shorts heading into the FOMC rate hike due this Wednesday. In the meantime, the immediate focus remains on the Eurozone final CPI figures due out shortly for further trading impetus.
EUR/USD Technical Levels
Today Last Price: 51.49
Today Daily change: 6.0 pips
Today Daily change %: 0.117%
Today Daily Open: 51.43
Previous Daily SMA20: 51.84
Previous Daily SMA50: 58.2
Previous Daily SMA100: 64.48
Previous Daily SMA200: 66.66
Previous Daily High: 53.17
Previous Daily Low: 51.11
Previous Weekly High: 53.48
Previous Weekly Low: 50.57
Previous Monthly High: 63.92
Previous Monthly Low: 49.64
Previous Daily Fibonacci 38.2%: 51.9
Previous Daily Fibonacci 61.8%: 52.38
Previous Daily Pivot Point S1: 50.64
Previous Daily Pivot Point S2: 49.84
Previous Daily Pivot Point S3: 48.58
Previous Daily Pivot Point R1: 52.7
Previous Daily Pivot Point R2: 53.96
Previous Daily Pivot Point R3: 54.76