EUR USD assume a firm recovery
8/25/2016 10:40:01 PM
The EUR/USD pair traded comatose so far this Thursday, merging the 15-pips recoil witnessed post-Tokyo open. Now, EUR/USD trades +0.08% higher at 1.1274, struggling hard to take on the recovery beyond 1.1280. Having declined near 1.1250-40 levels in the last US session, the main currency pair took on a firm recovery in the Asian session. Even though the major failed to expand the recovery above 1.1280 region, as investors look to merge the upside heading into a data-heavy calendar today. The immediate attention shifts towards the German Info business surveys ahead of the US durable goods release due later in the NA session. While the biggest risk event for this week stays the Jackson Hole Symposium, which starts later today. Furthermore, Yellen’s speech will be also closely eyed for fresh hints on the Fed’s monetary policy stance, especially after the central paused its rate rise campaign. In technical view, the pair finds the immediate persistence 1.1300. A break beyond the last, doors will open for a test of 1.1365. On the other hand, the immediate support is placed at 1.1250/40 below which 1.1210 could be tested.
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