EUR USD Raising back again
11/17/2016 10:42:56 AM
The EUR keeps the bid tone unbroken against USD in the early European morning, now raising EUR/USD back to 1.0705 handle.
Currently, EUR/USD now trades +0.09% higher at 1.0700, reversing a brief dip to 1.0690 region. The main currency pair held up its recovery from yearly troughs at 1.0715, and retraced limited gains among a minor-recovery seen in both USD and treasury yields.
The dollar is seen merging the vertical growth against its major peers near more-than a decade highs, allowing a brief recovery stint in the EUR/USD pair from the lowest levels since last Dec.
In technical view, the pair finds the immediate persistence 1.0735. A break beyond the last, doors will open for a test of 1.0805 and from there to 1.0845. On the other hand, the immediate support is located at 1.0680 below which 1.0645 and 1.0610 could be tested.