Home EUR/USD: At risk of extending its slide
FXStreet News

EUR/USD: At risk of extending its slide

The EUR/USD pair hovers around the 1.0900 level in a quiet start to the week, with the shared currency founding support in a better than anticipated German IFO Survey, FXStreet’s analyst Valeria Bednarik reports. 

Key quotes

“The Business Climate in Germany improved in May to 79.5 from 74.2. Expectations also improved, although the assessment of the current situation worsened.” 

“The 4-hour chart shows that the EUR/USD met buyers around the 100 and 200 SMA, both converging with the mentioned level, while the 20 SMA maintains its bearish slope above the current level.” 

“Support levels: 1.0870 1.0830 Resistance levels: 1.0925 1.0960”

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.