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).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    US Dollar Breakout Velocity Rests with Fed’s Liftoff Outlook after NFPs

  2. Forex News

    Metals & Petroleum products: CFTC Commitment of Traders Report - TDS

  3. Forex News

    EUR/USD survived the drop, US Payrolls on sight

  4. Forex News

    FX space for May break down - Scotiabank

  5. Forex News

    EUR/USD Retail FX Crowd Remains Net-Short Ahead of ECB June Meeting

Trading Center