EUR USD trying to regain high in FOREX market
12/28/2016 12:38:08 PM
The EUR/USD pair expanded its short time recovery from many years lows and now appears to be trying a fresh move towards 1.0510 psychological mark in a quiet holiday mood.
Now trading around 1.0485 region, the USD bulls appeared not inspired by yesterday's notable US consumer confidence index, which increased to the highest level since August 2001 and boosted market expectations for stronger US economic growth and higher interest rates.
From current level 1.0510 handle stays immediate persistence, which if conquered has the capability to boost the pair more towards 1.0535 horizontal persistence. On the downside, 1.0457 area now becomes immediate support to defend below which the pair is probable to head back towards 1.0435 intermediate support on the way 1.0340 handle.
FOREX Fundamental Analysis
Written by FxErvin