Currency Analyst since 2010

EUR/USD's on the upside

EUR/USD is trading on the upside. The pair approached the 55-day MA at $1.3188 after it levels just above $1.3100 on Friday, the lowest since July 19.

As for the data releases, there’s only Sentix Investor Confidence at 8:30 GMT (forecast: -4.0; previous: -4.9) – further improvement in sentiment is anticipated. On Friday euro managed to strengthen due to lower-than-expected NFP data. Note though that EUR/USD still fell for the second week in a row on the ECB Draghi’s dovish stance.

Resistance is at $1.3190, $1.3200, $1.3223 (Sep. 5 high) and $1.3250. Support is at $1.3145/40 (200-, 100-day MAs), $1.3105 (Sep. 5 low), $1.3089 (July 19 low) and $1.3050.

Chart. H1 EUR/USD

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