Monday, 20 May 2019 14:34 WIB |
CURRENCIES | EuroEUR/USD
The sentiment around the European currency remains depressed at the beginning of the week and is pushing EUR/USD to the mid-1.1100s following the opening bell in the Old Continent.
EUR/USD looks to trade, data
Spot is losing ground uninterruptedly since last Monday amidst rising effervescence in the US-China trade universe, declining yields in the European money markets and a generalized risk-off mood.
In fact, the pair has accelerated its recent break below the critical support at 1.1200 the figure and it has now shifted the attention to a probable visit of 2019 lows in the 1.1100 neighbourhood.
EUR/USD levels to watch
At the moment, the pair is losing 0.03% at 1.1153 and faces the next support at 1.1135 (low May 3) seconded by 1.1109 (2019 low Apr.26) and finally 1.0839 (monthly low May 2017). On the other hand, a break above 1.1242 (55-day SMA) would target 1.1264 (high May 1) en route to 1.1305 (100-day SMA).