OctaFX | OctaFX Forex Broker
Anmelden
Konto eröffnen
Back

EUR/USD: Fresh session lows amid rally in European stocks

FXStreet (Mumbai) - The EUR/USD pair fell to a fresh session low of 1.1116 as the bid tone on the USD improved amid the rally in the European stock markets.

Risk-on rally weighs over EUR

The common currency turned lower in early Europe and extended losses to trade below its 100-MA located at 1.1144 levels. The pan-European Euro Stoxx 600 index advanced 2.5%,capping the demand for funding currencies like EUR. Moreover, the Fed rate hike bets have become more sensitive to stock market moves off late.

Consequently, the uptick in the stock markets resulted in the uptick in the US dollar as well. Ahead in the day, the spot could be influenced by the Fed speak and the US Q2 GDP figure due for release later today.

EUR/USD Technical Levels

The pair currently trades around 1.1125. The immediate support is located at 1.1105 (Sep 23 low), under which the pair could drop to 1.1052 (Mar 26 high). On the other side, resistance is seen at 1.1144 (100-MA) and 1.1192 (200-MA).

WTI extends gains beyond $ 45 on firm China demand

WTI oil on NYMEX trades in the positive territory for the second straight session on Friday, as traders assess the latest comments from Fed’s Yellen while pick-up in Chinese oil demand also supported the black gold.
Mehr darüber lesen Previous

USD/CHF hits fresh monthly highs near 0.9840 on stronger USD

The USD bulls are under fire and sent the USD/CHF pair through the roof beyond 0.9800 levels, rallying nearly 200 pips from yesterday's steep fall.
Mehr darüber lesen Next
Livechat starten