EUR/USD back above 1.3200 after fresh lows

By FXstreet.com | Updated August 26, 2014 AAA

FXStreet (Córdoba) - The EUR/USD is back trading above the 1.32 mark at the beginning of the European session after hitting a fresh 11-month low amid expectations the European Central Bank will take further easing measures.



Despite staging a mild recovery, the EUR/USD remains vulnerable, having been unable to fill the bearish weekly opening gap, and having traded within a 40-pip range over the last sessions.



At time of writing, the pair is trading at 1.3210, 0.13% above its opening price, having hit its lowest since early September 2013 at 1.3178. In terms of data releases focus will be on the US, where durable goods orders and consumer confidence are due.



EUR/USD levels to watch



In terms of technical levels, the EUR/USD could find immediate supports at 1.3161 (Sep 9 2013 low), 1.3104 (Sep 6 2013 low) and 1.3100 (psychological level). On the flip side, resistances are seen at 1.3238 (Aug 22 closing price), 1.3295/1.3300 (Aug 22 high/psychological level) and 1.3323 (Aug 20 high).



Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: Dollar Hits a Record Before the ECB Weighs Further QE

  2. Forex News

    Strategy Video: Don’t Be Lulled by the Comfort of Consensus

  3. Forex News

    Beware Risk Trends as Traders Question Oil Market’s Implications

  4. Forex News

    EUR/USD trading end of November with mixed forward outlook - Scotiabank

  5. Forex News

    ECB: “What does T-LTRO 1 take-up mean?” - Rabobank

Trading Center