1.154
Today
+0.01%
5 Days
-0.69%
1 Month
-0.22%
6 Months
+1.15%
Year to Date
-1.72%
1 Year
-1.85%
Opening Price
1.153Previous Closing Price
1.154
Rebound towards 1.1568
below 1.1520, expect 1.1504 and 1.1495.
Rebound towards 1.1568
The EUR/USD pair sticks to a negative bias for the fifth straight day and trades around the 1.1535-1.1530 area during the Asian session on Wednesday.
EUR/USD closed Tuesday near 1.1540, down 0.1%. It fell on the day the European Central Bank (ECB) raised its deposit rate to 2.50% and in each of the three sessions since.
The Euro extends its losses against the US Dollar, sliding below the 100-day Simple Moving Average (SMA) at 1.1555, opening the door to further downside, with sellers setting their sights on Monday’s low of 1.1523. The EUR/USD trades at 1.1548, slightly above the 50-day SMA of 1.1530.
Scotiabank strategists Shaun Osborne and Eric Theoret report EUR/USD is fractionally lower but stabilizing just above Monday’s one-month low in the mid/lower-1.15s.
EUR/USD remains on the back foot on Tuesday as rising US Treasury yields support the US Dollar. However, the pair lacks strong follow-through selling as traders avoid placing large bets ahead of the Federal Reserve’s (Fed) monetary policy announcement on Wednesday.
The Euro (EUR) remains on the defensive against the US Dollar (USD) as investors brace for the first interest rate hike by the US Federal Reserve (Fed) after three years.
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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