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. Video: Event Risk Can Set Off Volatility, but Carry Trends?
    Forex News

    Video: Event Risk Can Set Off Volatility, but Carry Trends?

  2. EUR/USD indicates possibility of rebound - RBS
    Forex News

    EUR/USD indicates possibility of rebound - RBS

  3. EUR/USD Technical Analysis: Support Below 1.24 Holding
    Forex News

    EUR/USD Technical Analysis: Support Below 1.24 Holding

  4. A return of USD strength for 2015 - ANZ
    Forex News

    A return of USD strength for 2015 - ANZ

  5. EUR/USD: Looking to see above 1.25 - 2ndSkies
    Forex News

    EUR/USD: Looking to see above 1.25 - 2ndSkies

Trading Center