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19 May 2015
EUR/USD moves off lows but not too far
FXStreet (Córdoba) - EUR/USD found support and recovered some ground after hitting 2-week lows weighed by a combination of ECB dovish comments and better-than-expected US data.
EUR/USD accelerated losses and hit a 2-week low of 1.1122 as the dollar strengthened after data showed US housing starts reached a 7-year high in April. The pair was already under pressure amid euro self weakness on the back off dovish comments from ECB officials.
However, EUR/USD found support and even recovered a few pips over the last hours to currently trade at the 1.1150 zone, still down 1.43% on the day.
EUR/USD levels to watch
In terms of technical levels, below 1.1122 EUR/USD could find next supports at 1.1100 (psychological level) and 1.1066 (May 5 low). On the other hand, resistances are seen at 1.1175 (100-day SMA), 1.1285 (10-day SMA) and 1.1300 (psychological level).
EUR/USD accelerated losses and hit a 2-week low of 1.1122 as the dollar strengthened after data showed US housing starts reached a 7-year high in April. The pair was already under pressure amid euro self weakness on the back off dovish comments from ECB officials.
However, EUR/USD found support and even recovered a few pips over the last hours to currently trade at the 1.1150 zone, still down 1.43% on the day.
EUR/USD levels to watch
In terms of technical levels, below 1.1122 EUR/USD could find next supports at 1.1100 (psychological level) and 1.1066 (May 5 low). On the other hand, resistances are seen at 1.1175 (100-day SMA), 1.1285 (10-day SMA) and 1.1300 (psychological level).