EUR USD unsuccessful to hold the positive tone
1/2/2017 1:23:48 PM
According to market the EUR/USD pair unsuccessful to hold the positive tone saw in the first Asian session of 2017, and now turns lower towards 1.0505 handle, as we walk into early European trading.
At present, the spot trades -0.07% lower at fresh session lows of 1.0510, with the bears watching for a break below 1.0505 handle. Trading is anticipated to stay firm in the day ahead among low volumes, as most major world markets are closed in observance of New Year's Day.
In technical viewpoint, the pair finds the immediate persistence 1.0533. A break beyond the last, doors will open for a test of 1.0548 and from there to 1.0605. On the other hand, the immediate support is located at 1.0505 below which 1.0475 and 1.0375 could be tested.
FOREX Fundamental Analysis
Written by FxErvin