18 Feb 2016
EUR/USD at 2-week lows after FOMC, ECB minutes
EUR/USD has entered a consolidation phase around 1.1100 and near 2-week lows as investors digest Fed and ECB minutes, which coincidentally agreed to underline that downside risks to their economies have increased over the last couple of months.
EUR/USD fell below the 1.11 mark and hit its lowest level in two weeks at 1.1070 before finding support and recovering some ground. However, the bounce was capped by the 1.1110 area, confining the pair yo a sideways phase. At time of writing, EUR/USD is trading at 1.1085, down 0.38% on the day,
EUR/USD levels to watch
As for technical levels, immediate supports are seen at 1.1055 (200-day SMA) and 1.0963 (100-day SMA). On the flip side, resistances could be faced at 1.1178 (Feb 17 high), 1.1200 (10-day SMA) and 1.1249 (Feb 15 high).
EUR/USD fell below the 1.11 mark and hit its lowest level in two weeks at 1.1070 before finding support and recovering some ground. However, the bounce was capped by the 1.1110 area, confining the pair yo a sideways phase. At time of writing, EUR/USD is trading at 1.1085, down 0.38% on the day,
EUR/USD levels to watch
As for technical levels, immediate supports are seen at 1.1055 (200-day SMA) and 1.0963 (100-day SMA). On the flip side, resistances could be faced at 1.1178 (Feb 17 high), 1.1200 (10-day SMA) and 1.1249 (Feb 15 high).