FXStreet (Mumbai) – The EUR/USD hit another session low of 1.1136 after having toyed with resistance at 1.1155 levels for the last hour or so.
Eyes sentiment on Wall Street
The investors eye the sentiment on Wall Street for fresh trading cues. There is little doubt that stocks would open the day on a positive note, although traders would be interested to see if the early gains are maintained till NY closing.
The weakness in the stocks later today could help the EUR regain losses. Meanwhile, the investors would also keep an eye on any signs of big moves in the 2-year treasury note and Fed funds futures, which represent the change in the rate hike expectations.
EUR/USD Technical Levels
The spot currently trades around 1.1140. The immediate resistance is seen at 1.1159 (hourly 100-MA), above which the spot could target 1.12 levels. On the other side, support is seen at 1.1125 (100-DMA) and 1.1084 (50-DMA).
(Market News Provided by FXstreet)