EUR USD lies off the rate back towards daily lows
2/10/2017 9:55:44 AM
EUR/USD lies off the rate back towards daily lows hit earlier at 1.0647 levels.
Currently, the spot got to its maximum into red at 1.0656, depressing from session highs got at 1.0672 during mid-Asia. The EUR versus USD expands is bearish merging phase into early Europe, with the bears waiting for fresh incentive for the next push lower.
Over the last hour, the major witnesses’ fresh selling pressure as the dollar catches fresh bids against most of the majors and continues its Trump reflation trades-led bullish up move. In the meantime, the USD index trades +0.072% higher at 100.77, recovering ground from 100.67 levels.
In technical viewpoint, the pair finds the immediate persistence 1.0708. A break beyond the last, doors will open for a test of 1.0737 and from there to 1.0777. On the other hand, the immediate support is located at 1.0623 below which 1.0603 and 1.0576 could be tested.
FOREX market analysis by FxErvin.