EUR USD stays limited
10/26/2016 7:03:14 AM
The EUR/USD pair depart lows, but the recovery tries to keep on capped below 1.0900 handle as the USD regains poise and turns positive against most its major peers.
Currently, EUR/USD trade almost unmoved at 1.0890 levels, having found firm support at 1.0875, session lows. The main currency pair presented a solid comeback from a brief dip seen earlier on the day, as negative performance on the Asian indices saved the funding currency EUR.
However, the major fights to take on the recovery above 1.0900 handle as monetary policy discrepancy stay to improve the dollar at the expense of the common currency. In the meantime, the USD index spiked to 98.81 highs in early Asia, and now trades around 98.75, still up +0.05% on the day.
In technical view, the pair finds the immediate persistence 1.0905. A break beyond the last, doors will open for a test of 1.0927 and from there to 1.1000. On the other hand, the immediate support is located at 1.0850 below which 1.0820 and 1.0800 could be tested.