EUR USD Boosted from many weeks weakening
8/22/2016 8:43:37 AM
The withdrawal from multi-week lows in the EUR/USD pair stuck near 1.1265 region in Asia, allowing a tepid rebound back towards 1.1300 handle in early Europe. Now, EUR/USD trades -0.35% lower at 1.1285, improving from session lows struck at 1.1270 in the last hour. The demand for the USD stays on the growth so far this Monday, led by a solid recoil staged by the USD/JPY pair after the JPY was broadly hit by weekend’s dovish comments BOJ Governor Kuroda. The USD index rallies +0.40% and floats near daily tops got at 94.90 levels. Furthermore, a sharp rally seen in the US treasury yields across the horizon, with the 2-yr one rising nearly 4.50%, also improves the dollar at the expense of the euro. The US dollar is seen some buying interest at the start of the week, largely on the back profit-taking heading into the Jackson Hole Symposium, which kicks-off this Friday. In technical view, the pair finds the immediate persistence 1.1305. A break beyond the last, doors will open for a test of 1.1365. On the other hand, the immediate support is located at 1.1247 below which 1.1230 could be tested. Fundamental Analysis
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