EUR versus USD appears at risk
2/7/2017 11:08:15 AM
According to forex market the slight-recover seen in the EUR/USD pair lost legs just below 19-DMA, eliminating the rate temporarily below 1.0705 handle.
At present, the spot fall -0.43% to float near fresh session lows of 1.0693, as the bears fight back control among renewing buying interest seen behind the dollar against its major rivals. The USD index increases +0.31% to 100.13, having posted daily tops at 100.19.
In technical viewpoint, the pair finds the immediate persistence 1.0753. A break beyond the last, doors will open for a test of 1.0805 and from there to 1.0812. On the other hand, the immediate support is located at 1.0683 below which 1.0657 and 1.0614 could be tested.
FOREX market analysis by FxErvin.