EUR USD somewhat far from 3 week growth
11/3/2016 8:57:16 AM
The bid tone around the EUR declined a bit towards the late-Asian trades, now sending EUR/USD somewhat away from a new 3 week top reached over the last hours.
Currently, EUR/USD trades +0.17% higher at 1.1115, having once again found strong offers near 1.1125 region. The main currency pair is seen merging in a tight range near 3 month highs, as persevering risk-averse conditions keep on to reinforce the low-yielding/ less risky currency EUR.
In technical viewpoint, the pair finds the immediate persistence 1.1130. A break beyond the last, doors will open for a test of 1.1167 and from there to 1.1195. On the other hand, the immediate support is located at 1.1090 below which 1.1045 and 1.1000 could be tested.
Fundamental Analysis
by FxErvin
