FXStreet (Córdoba) – EUR/USD rose during the last three hours and the price is now attempting to rally above the 20-hour moving average, but still remains limited.
Euro erases losses but…
Earlier EUR/USD dropped from 1.0870 to 1.0816 from where it bounced to the upside. During the American session, the US dollar weakened across the board, but the EUR/USD only appreciated modestly. Risk appetite limited the euro.
The pair recently hit a session high at 1.0849 and it was trading at 1.0845, at the 20-hour MA, with the euro attempting to remain on top and holding at the same level it closed yesterday.
EUR/USD technical levels
Earlier today the pair attempted to extend the recovery from levels under 1.08 but the 20-day moving average at 1.0870 capped the upside; if it rises above attention would turn to 1.0930/40 (Jan 07, 14 and 19 highs) and then, the key barrier around the 1.1050 zone (Jan highs, 200-day MA). On the opposite direction support might be located at 1.0815 (daily low), 1.0785 (Jan 22 & 25 low) and 1.0775 (Jan 21 low).
(Market News Provided by FXstreet)