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Market Analysis

Home » Charts » 05/22/15: EURUSD Hits Monthly Low

05/22/15: EURUSD Hits Monthly Low

Posted by FXTimes in Charts - May 22nd, 2015 2:21 pm GMT

The EURUSD plunged toward 1.1000 on Friday, reaching its lowest level of the month as the dollar staged a late-week rally.

The EURUSD tumbled 0.7 percent to 1.1024, its fourth decline in the past five days. The pair is down 3.6 percent on the week, as the euro reversed more than three-and-a-half month highs. Initial support is located at 1.1023. On the upside, resistance is likely found at 1.1169.

The daily chart shows a neutral bias on the EURUSD.


Screenshot (349)

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