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31 Mar 2015
EUR/USD holds near daily lows
FXStreet (Córdoba) - The euro trades steady around the 1.0750 zone versus the dollar after the latest upside attempt was capped by the 1.0770/75 area.
An upbeat reading of US consumer confidence helped the dollar across the board and sent EUR/USD back to the 1.0720 area before finding support. Earlier during the European session, the pair bottomed out at 1.0714, extending its pullback from last week’s peak of 1.1052, posting lower highs and lower lows on daily basis.
At time of writing, EUR/USD is trading at 1.0740, recording a 0.85% loss on the day, with immediate supports seen at 1.0714 (daily low), 1.0648 (Mar 20 low) and 1.0613 (Mar 19 low). On the flip side, resistances could be found at 1.0852 (10-day SMA), 1.0894/1.0900 (Mar 30 high/psychological level) and 1.0948 (Mar 27 high).
An upbeat reading of US consumer confidence helped the dollar across the board and sent EUR/USD back to the 1.0720 area before finding support. Earlier during the European session, the pair bottomed out at 1.0714, extending its pullback from last week’s peak of 1.1052, posting lower highs and lower lows on daily basis.
At time of writing, EUR/USD is trading at 1.0740, recording a 0.85% loss on the day, with immediate supports seen at 1.0714 (daily low), 1.0648 (Mar 20 low) and 1.0613 (Mar 19 low). On the flip side, resistances could be found at 1.0852 (10-day SMA), 1.0894/1.0900 (Mar 30 high/psychological level) and 1.0948 (Mar 27 high).