1.161
Today
+0.16%
5 Days
-0.38%
1 Month
+0.62%
6 Months
-0.69%
Year to Date
-1.19%
1 Year
-0.27%
Opening Price
1.159Previous Closing Price
1.159The Euro (EUR) picks up against a somewhat softer US Dollar (USD) on Wednesday, but upside attempts are frail, after last week's 0.8% decline and Eurozone PMI data have failed to boost confidence in the Eurozone's economic outlook.
Danske Research Team reports that EUR/USD is around the 1.16 level while European government bond yields continue to climb and US yields show a mixed pattern.
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that EUR/USD has shifted into short-term range trading between 1.1570 and 1.1610 after a dip to 1.1565 and rebound to 1.1608. They still see scope for a test of 1.1550 unless 1.1630 strong resistance breaks.
The Euro (EUR) trades slightly higher against the US Dollar (USD) at around 1.1600 during the early European trading session on Thursday.
The EUR/USD pair holds steady near 1.1590 during the early Asian session on Thursday. The potential upside for the major pair might be limited amid hawkish Federal Reserve (Fed) expectations and escalating conflict in the Middle East.
The US Dollar (USD) has traded in quite a volatile fashion on Wednesday, always amid the unabated tensions from the US-Iran crisis, speculation over another bout of FX intervention by Japanese authorities and bets for whatever the Fed might do or not do in the next few months.
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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The upside prevails as long as 1.1586 is support, with 1.1641 and 1.1655 as targets
below 1.1586, expect 1.1563 and 1.1550.
The upside prevails as long as 1.1586 is support, with 1.1641 and 1.1655 as targets
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