Skip to main content

EUR/USD tracks lower in Asian trading today

Yesterday the EUR/USD fell to a low at 1.0775 after it had busted below the noted double bottom at 1.0802. That move was covered here at the time, as was the rebound that followed later in the day. That rebound saw the Euro lift back to a high at 1.0819. However, it was not able to hold that rebound into the US close. The EUR/USD closed last night at 1.0789. That daily close below 1.0800 was not very encouraging for Euro bulls, as it further endorsed the run of technically negative closes below the 200 day moving average (now at 1.0836). As you might expect trading so far today has been pretty subdued and directionally what movement there has been has been to the downside. The EUR/USD has set an interim low at 1.0774 this morning and it is not far above that just now. The Euro is going to react later on, when that US PCE data hits the screens and there will be more to add ahead of that release and after it. The EUR/USD is currently trading at 1.0778 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!