Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/USD trades below 1.1600 on EM turmoil, good to sell on rallies

EURUSD has shown a minor recovery of almost 80 pips from the low of 1.1530 lev el.The recovery is short lived and started to decline after a minor jump above 1.1600. The major reason for broad based buying in USD was due to sell-off in EM currencies especially in South African Rand hits 2 year high at 15.69 as South African GDP came at weaker than expected. The escalating trade tensions between US and major countries like China and Canada.

 

US ISM manufacturing index released yesterday came at 61.2 for the month of Aug fastest pace in 14 years.

On the lower side, major support is around 1.1540 (20- day MA) and any violation below targets 1.1500/1.14656. Any convincing close below 1.1500 confirms further weakness.

 

The near term resistance is around 1.1630 and any break above targets 1.1660/1.1700/1.17500.

It is good to sell on rallies around 1.1600-025 with SL around 1.1660 for the TP of 1.1500/1.1465.

 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

February 22 20:00 UTC Released

USFCOJ Stock

Actual

0.548 Pounds B

Forecast

Previous

0.529 Pounds B

February 22 20:00 UTC Released

USBeef Stocks

Actual

495.624 Pounds M

Forecast

Previous

514.72 Pounds M

January 31 00:00 UTC 558504558504m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 558504558504m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 570324570324m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 558504558504m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 570324570324m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 558504558504m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 558504558504m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 558504558504m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.