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FxWirePro: EUR/USD sliding ahead of European open, USD bulls fight back for control

  • Greenback was hammered to seven month lows versus the euro on Monday, crashed over 300 pips

  • EUR/USD spiked from 1.1400 levels on to as much as 1.1700 on Monday, witnessing a 300 pips move unwinding in the EUR/USD pair

  • In the Asian session today, EUR/USD sliding lower as USD bulls jumped back in to the bids, trying fight back to take control 

  • EUR/USD erased nearly one-thirds of previous day's spike and is currently trading at 1.1545,  hovering close to session lows reached at 1.1525

  • If European equities recover later in the day, EUR/USD is likely to test support levels between 1.1440/70

Resistance Levels:

1.1604 (Session high Aug 25)

1.1622 (Session high Aug 25)

1.1651 (Day high Jan 22 2015)

Support Levels:

S1: 1.1530 (4h Tenkan Sen)

S2: 1.1523 (Day's low 25 Aug)

S3: 1.1500 (Psychological Level)

  • Market Data
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