1.139
Today
-0.53%
5 Days
-1.34%
1 Month
-2.48%
6 Months
-1.58%
Year to Date
-3.05%
1 Year
-3.52%
Opening Price
1.145Previous Closing Price
1.145
The downside prevails as long as 1.1402 is resistance, with 1.1360 and 1.1350 as targets
above 1.1402, look for 1.1420 and 1.1430.
The downside prevails as long as 1.1402 is resistance, with 1.1360 and 1.1350 as targets
There was no respite for the US Dollar’s (USD) march north on Wednesday. In fact, the Greenback has clinched its third consecutive day of gains, hitting at the same time fresh two-month highs.
EUR/USD extends its intraday decline on Wednesday as stronger-than-expected US business activity data reinforces expectations of another Federal Reserve (Fed) rate hike and lifts the US Dollar (USD). At the time of writing, the pair trades around 1.1401, near levels last seen in late July.
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann keep a negative stance on EUR/USD after the pair closed at 1.1447. They see scope for further Euro (EUR) weakness, with intraday support at 1.1415 and a key level at 1.1400, though they doubt a sustained break lower.
The Euro (EUR) accelerates its recovery against the British Pound (GBP) on Wednesday as mixed UK Purchasing Managers' Index (PMI) figures reveal that inflationary pressures have weighed heavily on business activity in September.
Brown Brothers Harriman’s (BBH) Elias Haddad reports EUR/USD is weaker on broad Dollar strength, but Eurozone data and European Central Bank (ECB) expectations cushion the downside. September Eurozone Purchasing Managers' Index (PMI) beat forecasts, supporting additional ECB hikes.
The Euro (EUR) remains on its back foot against the US Dollar (USD) on Wednesday, extending its decline to two-and-a-half-month lows after dropping about 0.5% so far this week.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
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