OctaFX | OctaFX Forex Broker
Anmelden
Konto eröffnen
Back

EUR/USD: USD bulls dominate on Yellen, drops further to 1.1165

FXStreet (Mumbai) - The EUR/USD pair keeps falling and now tests lows in the mid-Asian trades, extending its correction from near 1.13 barrier, as the Fed Chair Yellen talked up 2015 rate hike which triggered a fresh USD rally.

EUR/USD pressured below 1.1200

The EUR/USD pair trades -0.55% lower at 1.1170, hovering close to fresh session lows struck at 1.1160 in early moves. The main currency pair opened gap down and surrendered the 1.12 barrier as the US dollar was bolstered after the Fed Chairwoman Yellen reiterated in her speech that rate hike will happen later this year.

EUR/USD continues to struggle near the lows, meeting fresh supply on every attempt to fill in the bearish gap as the buck remains in power across the board.

On Thursday, the shared currency extended higher after the greenback was heavily sold-off amid risk-aversion and weaker US durable goods data. The corporate spending on the non-defence capital goods other than aircraft, edged 0.2% lower in August.

Meanwhile, markets now await German Bundesbank President Weidmann’s speech ahead of the crucial Q2 GDP data from the US due later tonight.

EUR/USD Technical Levels

The pair has an immediate resistance at 1.1232 (Today’s High), above which gains could be extended to 1.1296 (Sept 24 High) levels. On the flip side, support is seen at 1.1120 (Sept 7 Low) below which it could extend losses to 1.1103 (Sept 23 Low) levels.

Impact of Yuan devaluation is short term in nature - PBOC

An official from the People’s Bank of China (PBOC) is now crossing the wires via Reuters, noting that the impact of yuan depreciation is transitory and now is the appropriate time to implement currency market reforms.
Mehr darüber lesen Previous

USDJPY: Neutral bias for the coming week – MUFG

Research Team at MUFG, suggest that the USDJPY pair is likely to trade with neutral bias in the coming week within the range of 118.50-121.50 while looking for more evidence that economic slowdown in China undermining Japan’s economy.
Mehr darüber lesen Next
Livechat starten