10 Aug 2015
EUR/USD bounces off 1.0920
FXStreet (Edinburgh) - After dropping to the 1.0920 area, EUR/USD is now staging a recovery to the 1.0945/55 band.
EUR/USD volatile after Fischer’s speech
Spot is now regaining the ground lost in the previous dip following Fischer remarks. The Fed’s Vice Chairman defended the policy of low interest rates, emphasizing the positive performance of the US labour market, which is near to full employment. He has also said that imbalances overseas do not bode well for the domestic economy.
Ahead in the session, US Labour Market Conditions Index is due (0.8 prev.) followed by the speech by Atlanta Fed President D.Lockhart.
EUR/USD relevant levels
As of writing the pair is retreating 0.23% at 1.0940 and a breach of 1.0855 (low Aug.7) would open the door to 1.0848 (low Aug.5) and then 1.0811 (low Jul.11). On the other hand, the next resistance lines up at 1.0990 (high Aug.4) ahead of the psychological level at 1.1000 and finally 1.1080 (high Jul.29).
EUR/USD volatile after Fischer’s speech
Spot is now regaining the ground lost in the previous dip following Fischer remarks. The Fed’s Vice Chairman defended the policy of low interest rates, emphasizing the positive performance of the US labour market, which is near to full employment. He has also said that imbalances overseas do not bode well for the domestic economy.
Ahead in the session, US Labour Market Conditions Index is due (0.8 prev.) followed by the speech by Atlanta Fed President D.Lockhart.
EUR/USD relevant levels
As of writing the pair is retreating 0.23% at 1.0940 and a breach of 1.0855 (low Aug.7) would open the door to 1.0848 (low Aug.5) and then 1.0811 (low Jul.11). On the other hand, the next resistance lines up at 1.0990 (high Aug.4) ahead of the psychological level at 1.1000 and finally 1.1080 (high Jul.29).