Filed Under:
Forex pairs in this Article » EUR/USD (Córdoba) - The EUR/USD managed to bounce off daily lows at the beginning of the New York session, helped by the positive tone in stocks.

EUR/USD fails just ahead of Fibo level

EUR/USD was rejected from a high of 1.3335 during the European session, just ahead the 61.8% retracement of the broader 1.3710/1.2746 fall that stands at 1.3340 and dipped to fresh daily lows. However, with the setback being contained by 1.3265, EUR/USD resumed the upside, but it is struggling with the 1.3300 level, which is being reinforced by the 20-hour SMA.

If EUR/USD manages to break above 1.3335/40, next resistance could be faced at 1.3356 (Feb 14 high), while the 1.3265 zone should continue to hold the downside.

With the calendar really light for the day, markets will be closely looking the second day of the German Constitutional Court hearing on the ECB OMT program.
comments powered by Disqus