FXStreet (Edinburgh) – EUR/USD has surrendered initial gains and is now returning to test the 1.1000 neighbourhood ahead of the opening bell in Europe.
EUR/USD retakes 1.10
The selling mood around the US dollar has taken the pair back above the psychological handle at 1.10 on Wednesday, surpassing post-ECB highs in the 1.0980 area and posting multi-week tops at the same time.
Once again, nothing worth mentioning data wise in Euroland, whereas Initial Claims and Export/Import Prices are in the limelight across the pond.
EUR/USD levels to consider
At the moment the pair is losing 0.18% at 1.0998 with the next hurdle at 1.1063 (100-day sma) ahead of 1.1124 (61.8% Fibo of 1.1496-1.0524) and then 1.1219 (downtrend from high May 2014). On the other hand, a break below 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0524 (low Dec.3) and finally 1.0519 (low Apr.13).
(Market News Provided by FXstreet)