EUR USD Trading News in Forex market 5
8/30/2017 8:28:16 PM
The single currency is trading just about unmovable against the dollar, with EUR/USD turning around the 1.1973 area ahead of the European open.
After getting fresh phase highs near 1.2071 on Tuesday, the pair is now looking to steady in the 1.1977 area ahead of key releases in both Euro land and the US dockets.
Improved selling pressure around the dollar raised spot well above the psychological 1.2005 handle yesterday, rapidly taking out the critical persistence area at 1.2044/55 and proceeding to 1.2070, where sellers re-arisen.
At present, the pair is losing 0.06% at 1.1968 facing the immediate support at 1.1951 followed by 1.1857 and then 1.1816. On the other hand, a break above 1.2071 would open the door to 1.2163 and ultimately 1.2181.
FOREX market analysis by FxErvin.