Euro extended its recovery from weekly lows against the US Dollar but remains in negative. Price showing signals of consolidation but the overall tone still points to the downside. The EUR/SUD pair moved to the upside during the American session on the back of a retreat of the US dollar across the board. The euro bottomed earlier at 1.1529 and since then rose more than 50 pips. It was hovering around session highs at 1.1585, slightly below the 20-hour moving average that stands at 1.1585/90. A break higher could add more positive momentum in the very short-term to the euro. The US dollar lost strength in the market after a positive opening following escalating US-China trade tensions and after ECB President Mario Draghi spoke about the “patience” on determining the first rate hike and also mentioned that a significant monetary accommodation was still needed. US Housing data came in mixed having no lasting impact. On Wednesday, more ECB board members will deliver speeches in Portugal while in the US more housing data is due. EUR/USD levels to watch To the upside, resistance levels might be located at 1.1585, followed by 1.1625 and 1.1645 (Jun 19 high). On the downside, support could be seen at 1.1545, 1.1530 (Jun 19 low) and 1.1510 (May low). 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. View All Post By FX Street FXStreet News share Read Next AUD/USD off lows still under pressure below 0.7400 FX Street 3 years Euro extended its recovery from weekly lows against the US Dollar but remains in negative. Price showing signals of consolidation but the overall tone still points to the downside. The EUR/SUD pair moved to the upside during the American session on the back of a retreat of the US dollar across the board. The euro bottomed earlier at 1.1529 and since then rose more than 50 pips. It was hovering around session highs at 1.1585, slightly below the 20-hour moving average that stands at 1.1585/90. A break higher could add more positive momentum in the very short-term to the euro.… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
