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. Euro May Look Past CPI Data, NZ Dollar Down on Building Permits Drop
    Forex News

    Euro May Look Past CPI Data, NZ Dollar Down on Building Permits Drop

  2. EUR/USD selling activity overwhelmingly from 4-10:30am EDT - SocGen
    Forex News

    EUR/USD selling activity overwhelmingly from 4-10:30am EDT - SocGen

  3. EUR/USD: Selling to accelerate below 1.2580 - FXStreet
    Forex News

    EUR/USD: Selling to accelerate below 1.2580 - FXStreet

  4. EUR/USD Technical Analysis: Bounce Hinted Above 1.25 Mark
    Forex News

    EUR/USD Technical Analysis: Bounce Hinted Above 1.25 Mark

  5. Disinflation driving monetary divergence - SocGen
    Forex News

    Disinflation driving monetary divergence - SocGen

Trading Center