EUR USD Fundamental Analysis 1
8/10/2016 11:39:16 AM
The EUR/USD pair is seen merging the upside at 3 day highs, as heavy losses in the USD across the board remain to keep the major reinforced. Now, EUR/USD trades +0.32% higher at 1.1151, flirting with fresh three-day highs posted before at 1.1156. The main currency pair expanded its bullish momentum into a third day today, mostly driven by a sharp sell-off in the USD against its major rivals in wake of post-NFP correction as well as on dropping treasury yields. The USD index fell -0.40% to 95.69, floating close to session lows of 95.63. The bulls struggle to extend higher as sentiment turned mixed across the Asian markets, while oil trades largely quiet, providing little motivation to the funding currency EUR. Attention now changes to the US calendar among a shortage of substantial economic releases from the Euro land aligned today. In technical view, the pair finds the immediate persistence 1.1195/1.1210. A break beyond the last, doors will open for a test of 1.1250. On the other hand, the immediate support is located at 1.1120/25 below which 1.1110 could be tested.
