OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/USD slips below 1.3000, tests 200 DMA

FXstreet.com (Córdoba) - The US dollar has continues to build on Thursday's gains across the board, dragging EUR/USD to a fresh 2-week low sub-1.3000 at the beginning of the American session.

The euro found temporal support around 1.3000, but eventually surrendered to USD strength and fell to a low of 1.2975, where the 200-hour SMA has helped to contain the slide. At time of writing, EUR/USD is trading at the 1.2985 zone, recording a 0.4% loss on the day.

In terms of technical levels, immediate supports are seen at 1.2975 (200-day SMA) and 1.2955 (low Apr 24). On the upside, the 20-hour SMA around 1.3030 should offer resistance on bounces, followed by 1.3075 (21-day SMA) and 1.3100 (psychological level).

Session Recap: USD continues to shine

The US dollar has continued to strengthen versus most competitors on Friday, after staging an impressive rally during the last New York session, which was fuelled by the USD/JPY breaking decisively above the 100.00 mark. The cross has gone as high as 101.73, its highest in 4 ½ years.
Read more Previous

Forex Flash: August shaping up to be pivotal month for BoE – RBS

Expectations for BoE policy easing have ratcheted back, while additional BoE asset purchases have been ratcheted back significantly in recent weeks. Even after Carney’s arrival on 1st July, expectations do not appear to be particularly aggressive. To some extent this reflects the view that the MPC has a preference for credit easing over QE, most obviously due to concerns over the inflation/growth trade-off.
Read more Next
Start livechat