EUR USD stayed stable in region
10/19/2016 9:13:53 AM
The shared currency keeps a firm performance following the opening bell in Euro land on Wednesday, with EUR/USD frequently firm around the 1.0980 area.
Spot has managed to regain the key 1.1000 handle and above on Tuesday, though the upside momentum run out of legs in the area of 1.1030, causing the following leg lower to the 1.0980 area, where it is now looking to stabilize.
A soft start of the week by the dollar carry on to be the exclusive source of the current reserve around the pair. However, EUR/USD still is at risk as dips in the buck not only stay shallow but they also remain well underpinned by increasing expectations of a Fed’s rate hike by end 2016.
The pair is now gaining 0.09% at 1.0989 facing the next persistence at 1.1029 followed by 1.1067 and then 1.1138. On the other hand, a breakdown of 1.0964 would target 1.0950 en route to 1.0909.