23 Jul 2015
EUR/USD testing daily highs and the 20-SMA (again)
FXStreet (Córdoba) - EUR/USD rebounded at 1.0950 and rose back toward the 1.1000 area. Currently is testing daily highs as it trades at 1.1010/15, up 80 pips for the day. A stronger euro in the market pushed the pair to the upside.
The euro is posting important gains across the board on Thursday, having the best day in weeks and added to weekly gains. EUR/GBP is approaching 0.7100 while EUR/CHF climbed above 1.0500. Against commodity currencies the euro is also stronger. EUR/AUD is moving toward 1.5000 and to 2015 highs while gained almost 300 pips during the week.
EUR/USD back at key moving average
During the last three days EUR/USD has risen 200 pips, recovering from 3-monhth lows. The rally brought the price toward the daily 20-SMA that currently stands around 1.1020. The last time the pair posted a daily close on top of the mentioned moving average was a month ago. If it is able to end significantly above it could remove downside pressure.
The next dynamic resistance to consider is a downtrend line, originated at June highs, that at the moment stands around 1.1080. A break of the formation could open the doors for a stronger recovery.
The euro is posting important gains across the board on Thursday, having the best day in weeks and added to weekly gains. EUR/GBP is approaching 0.7100 while EUR/CHF climbed above 1.0500. Against commodity currencies the euro is also stronger. EUR/AUD is moving toward 1.5000 and to 2015 highs while gained almost 300 pips during the week.
EUR/USD back at key moving average
During the last three days EUR/USD has risen 200 pips, recovering from 3-monhth lows. The rally brought the price toward the daily 20-SMA that currently stands around 1.1020. The last time the pair posted a daily close on top of the mentioned moving average was a month ago. If it is able to end significantly above it could remove downside pressure.
The next dynamic resistance to consider is a downtrend line, originated at June highs, that at the moment stands around 1.1080. A break of the formation could open the doors for a stronger recovery.