EUR/USD recovers from lows

By FXstreet.com | Updated August 12, 2014 AAA

FXStreet (Córdoba) - The EUR/USD is staging a mild recovery after bouncing from the 1.3335 area as investors begin to look past soft ZEW data published earlier.



The EUR/USD bottomed out at 1.3335 Tuesday, halting the decline a few pips before its 2014 low, and managed to trim losses ahead of the Wall Street opening. At time of writing, the pair is trading at 1.3360, still down 0.18% on the day.



With no first-tier data scheduled for the rest of the day, FX market could follow the lead of equities and broad sentiment.



EUR/USD technical levels



As for technical levels, on the upside, the EUR/USD could find immediate resistances at 1.3390 (10-day SMA), 1.3410 (Aug 11 high) and 1.3432 (Aug 8 high). On the other hand, supports are seen at 1.3332 (2014 low Aug 6), 1.3300/1.3295 (psychological level/Nov 7 low) and not much till the 1.3250 area (mid-September lows).



Related Forex Analysis
  1. Trading Video: Officials Trigger Volatility for Euro, Yen and Dollar
    Forex News

    Trading Video: Officials Trigger Volatility for Euro, Yen and Dollar

  2. Strategy Video: A Volatile Thanksgiving Week for FX?
    Forex News

    Strategy Video: A Volatile Thanksgiving Week for FX?

  3. US Session: The market left shell-shocked on Draghi
    Forex News

    US Session: The market left shell-shocked on Draghi

  4. EUR/USD back into the bears den, downside wide open
    Forex News

    EUR/USD back into the bears den, downside wide open

  5. Correlated financial markets in a snapshot– RBS
    Forex News

    Correlated financial markets in a snapshot– RBS

Trading Center