EUR succeeded to rebound few pips versus USD
5/9/2017 12:11:25 PM
The EUR/USD pair ultimately broke below its 18-pips integrative range and fell to test the 1.0905 handle during early European session, although has succeeded to rebound few pips.
As the European session got proceeding, a fresh wave of dollar buying interest, with the key USD Index improving overnight gains and currently located at session tops near 99.23 area, has been the key factor weighing on the major.
On a constant break below the 1.0905 handle, the pair is probable to speed up the corrective slide towards 1.0887 intermediate support before finally falling to mid-1.0803s support. On the upside, any recovery move above 1.0927 level now appears to provoke persistence near 1.0953 area, which if cleared has the potential to boost the pair back towards 1.0983 intermediate persistence on the way the key 1.1005 psychological mark.
FOREX market analysis by FxErvin.