1.159
Today
+0.19%
5 Days
+0.30%
1 Month
+1.30%
6 Months
-2.20%
Year to Date
-1.32%
1 Year
-0.93%
Opening Price
1.156Previous Closing Price
1.157The EUR/USD pair builds on last week's bounce from the vicinity of the 1.1500 psychological mark and gains strong follow-through positive traction on Monday.
United Overseas Bank’s (UOB) Quek Ser Leang highlights that EUR/USD surged to 1.1585, leaving the Euro (EUR) with a firmer tone against the US Dollar (USD). Intraday, the pair could extend gains toward 1.1590, though 1.1610 is seen as strong resistance.
The EUR/USD pair builds on last week's bounce from the vicinity of the 1.1500 psychological mark and attracts follow-through buyers for the third straight day.
The EUR/USD pair gathers strength to around 1.1575 during the early Asian trading hours on Monday. The US Dollar (USD) edges lower against the Euro (EUR) amid weaker-than-expected US economic data and shifting central bank expectations.
The US Dollar Index (DXY) extended its slide on Friday, holding below 100.00 at fresh lows after a fourth straight soft US data print.
The EUR/USD registers gains of over 0.32% as traders face key resistance at the 100-day Simple Moving Average (SMA) at 1.1567, as bulls eye the 1.1600 psychological figure. At the time of writing, the pair trades at 1.1564 after bouncing off daily lows of 1.1526.
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The upside prevails as long as 1.1588 is support, with 1.1638 and 1.1649 as targets
below 1.1588, expect 1.1569 and 1.1557.
The upside prevails as long as 1.1588 is support, with 1.1638 and 1.1649 as targets
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