Forex: EUR/USD hovering over 1.2350
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - The shared currency is trading in the mid 1.23s on Monday, printing fresh session highs at the same time. Thin trade will dominate the markets today, as an extremely light docket is expected in both the euro zone and the US - Construction Output and the Chicago Naional Activity index, respectively.
Volatility would hinge on rumours and events in the euro zone mainly, while investors wait for the meeting between A.Merkel and Samara son Wednesday.
EURUSD is now advancing 0.11% at 1.2352, facing the first hurdle at 1.2388 (high Aug.9) followed by 1.2402 (high Aug.8) then 1.2429 (Upper Bollinger) and 1.2444 (high Aug.6).
On the flip side, a dip below 1.2256 (low Aug.16) would expose 1.2242 (low Aug.10) then 1.2195 (61.8% of 1.2042-1.2444) and 1.2167 (low Aug.3).
Volatility would hinge on rumours and events in the euro zone mainly, while investors wait for the meeting between A.Merkel and Samara son Wednesday.
EURUSD is now advancing 0.11% at 1.2352, facing the first hurdle at 1.2388 (high Aug.9) followed by 1.2402 (high Aug.8) then 1.2429 (Upper Bollinger) and 1.2444 (high Aug.6).
On the flip side, a dip below 1.2256 (low Aug.16) would expose 1.2242 (low Aug.10) then 1.2195 (61.8% of 1.2042-1.2444) and 1.2167 (low Aug.3).
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