EUR USD wait for important session forward in Forex market
5/12/2017 1:18:47 PM
The EUR/USD pair stayed better bid nearly all over the Asian trading, though unsuccessful to chew the offers placed near 5-DMA at 1.0883.
The spot saw a slight jump from 1.0858 to 1.0873 levels in Asia on the back of held up USD buying across the board, as the US yields turned lower alongside Asian equities.
The price is now below its 15 and 80 SMAs, with the shortest speed up lower and nearing the largest, this last at 1.0888. Technical indicators in the stated time frame have corrected higher, but hold within negative territory, away from enough to suggest an upward move. Selling interest stays strong on approaches to the 1.0905 area, but it will take a recovery beyond 1.0933 to revert the negative tone, at least in the short term. Support levels: 1.0848 1.0820 1.0773 persistence levels: 1.0888 1.0933 1.0967.
FOREX market analysis by FxErvin.