Capital Trust
Capital Trust

Oct 21, 2016

04:13 PM EDT

  • New York open
  • London close
  • Tokyo close
  • Sydney close
Market Analysis

Home » Charts » 05/29/15: EURUSD Recovers at 1.10

05/29/15: EURUSD Recovers at 1.10

Posted by FXTimes in Charts - May 29th, 2015 2:13 pm GMT

The EURUSD rebounded on Friday and could be prepared to turn higher as weak US GDP revisions set the stage for a weaker dollar.

The EURUSD was trading at 1.0992 in the early New York session, up 0.3 percent. The pair climbed to a session high of 1.1010 before consolidating below the psychological level. While the pair is likely to remain pressured by the unraveling Greece situation, disappointing US GDP could set the stage for a larger rally.

The EURUSD faces initial support at the daily high of 1.1010, which is also the high from May 25. A break above that level would target 1.1075. On the downside, initial support is located at 1.0900 followed by 1.0933.


Screenshot (370)


Share!Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+

No comments yet.

You must be logged in to post a comment.

Forex, Commodities, Indices

Daily Updates

Daily Updates

Get the latest fundamental analyses, technical analyses and the most up-to-date Forex news catered to your interests, everyday.