1.158
Today
+0.01%
5 Days
+0.34%
1 Month
+1.25%
6 Months
-2.31%
Year to Date
-1.40%
1 Year
-1.01%
Opening Price
1.158Previous Closing Price
1.158The shared currency clings to minimal gains versus the US Dollar on Monday, edging up by some 0.08% after reaching a month-and-a-half high at 1.1614, then reversing course and falling beneath 1.1600, poised to end the session near the low of the day (LOD) of 1.1561.
EUR/USD trims earlier gains on Monday as the US Dollar (USD) shows signs of stabilization after opening the week under selling pressure. At the time of writing, the pair trades around 1.1580 after touching an intraday high of 1.1614, its highest level since June 17.
Commerzbank’s Volkmar Baur notes that the US Dollar (USD) has weakened against the Euro (EUR) as markets steadily scale back expectations for further Federal Reserve (Fed) tightening relative to other G10 central banks.
Scotiabank strategists Shaun Osborne and Eric Theoret report the Euro (EUR) is firming as Eurozone economic resilience and narrowing yield spreads versus the US support EUR/USD.
The 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 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 downside prevails as long as 1.1590 is resistance, with 1.1548 and 1.1536 as targets
above 1.1590, look for 1.1610 and 1.1622.
The downside prevails as long as 1.1590 is resistance, with 1.1548 and 1.1536 as targets
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