EUR/USD finds support at 1.1280 and trims losses
FXStreet (Córdoba) – EUR/USD bottomed at 1.1282 and then rebounded to the upside, climbing back above 1.1300. During the US session the pair trimmed losses, but still remains in negative territory, retreating after reaching on Asian hours at 1.1373 the highest level since August 27.
EUR/USD holds above 1.1280
The decline form the highs found support at the important area of 1.1280. According to Valeria Bednarik, chief analyst at FXStreet a break below 1.1280 would expose the pair to an extension down to 1.1240.
So far the recovery form the lows has been limited. Currently trades at 1.1305/10, 30 pips below Friday’s closing price and 65 below daily highs.
A weak EUR
The Euro weakened across the board during the European and the American cession. The currency so far is among the worst performers. While the US dollar is lower again most commodity currencies is up versus the euro and the pound. EUR/GBP and EUR/CHF are down for the day trading at 0.7335 and 1.0950 respectively.
EUR/USD bottomed at 1.1282 and then rebounded to the upside, climbing back above 1.1300. During the US session the pair trimmed losses, but still remains in negative territory, retreating after reaching on Asian hours at 1.1373 the highest level since August 27.
(Market News Provided by FXstreet)