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26 Apr 2016
EUR/USD struggles to hold above 1.1300
EUR/USD lost altitude and gave up some of its intraday gains as the dollar managed to recover ground across the board.
The US dollar came under broad pressure at the beginning of the American session following a string of disappointing economic data, sending EUR/USD to its highest level in 5 days at 1.1339. However, the pair stalled ahead of 1.1350 and turned south, sliding to the 1.1290 in recent dealings, where anyhow it holds onto a 0.24% daily gain.
EUR/USD levels to watch
In terms of technical levels, if EUR/USD breaks above 1.1339, next resistances line up at 1.1394 (Apr 21 high) and 1.1464 (Apr 14 high). On the other hand, supports are seen at 1.1214 (Apr 25 low), 1.1189 (50-day SMA) and 1.1144 (Mar 24 low).
The US dollar came under broad pressure at the beginning of the American session following a string of disappointing economic data, sending EUR/USD to its highest level in 5 days at 1.1339. However, the pair stalled ahead of 1.1350 and turned south, sliding to the 1.1290 in recent dealings, where anyhow it holds onto a 0.24% daily gain.
EUR/USD levels to watch
In terms of technical levels, if EUR/USD breaks above 1.1339, next resistances line up at 1.1394 (Apr 21 high) and 1.1464 (Apr 14 high). On the other hand, supports are seen at 1.1214 (Apr 25 low), 1.1189 (50-day SMA) and 1.1144 (Mar 24 low).