Today
-0.59%
5 Days
-0.84%
1 Month
-0.90%
6 Months
-5.83%
Year to Date
-5.52%
1 Year
-3.98%
Opening Price
1.116Previous Closing Price
1.116
The downside prevails as long as 1.1177 is resistance, with 1.1122 and 1.1109 as targets
above 1.1177, look for 1.1198 and 1.1211.
The downside prevails as long as 1.1177 is resistance, with 1.1122 and 1.1109 as targets
EUR/USD extends losses for the second straight day, slipping to a two-week low during Wednesday's American trading hours.
Societe Generale’s Kit Juckes notes that EUR/USD ‘fair value’ is near 1.1150 after the latest US CPI-driven rates move, leaving the pair stuck in a range. He stresses that the US economy continues to outperform and keeps a year-end EUR/USD target of 1.10. Upcoming US PPI data may draw extra focus following CPI.
MUFG’s Derek Halpenny notes that a sharp rise in the 2-year UST yield, driven by stronger US CPI and hawkish comments from Fed Governor Waller, has revived speculation of a 50bp FOMC hike.
The Euro (EUR) is down 0.2% to near 1.1138 against the US Dollar (USD) during the European trading session on Wednesday.
ING’s Chris Turner highlights that a key technical level at 1.1110 is providing a floor for EUR/USD, marking a 50% retracement of the prior rally. While some profit-taking on short positions is likely, ING sees a weak case for a sustained bounce.
Deutsche Bank’s Henry Allen and colleagues note that a stronger US CPI print and hawkish Federal Reserve rhetoric triggered a sharp repricing of Fed expectations, lifting the Dollar Index and weighing on EUR/USD. Markets now fully price a 25 bp Fed hike in December and see some risk of 50 bp, while US yields surged across the curve, reinforcing Dollar strength.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.