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23 Feb 2015
EUR/USD recovers from lows but lacks momentum
FXStreet (Córdoba) - EUR/USD has managed to trim intraday losses at the beginning of the American session, with the pair showing little reaction to US data markets anticipate a speech by Fed Yellen on Tuesday, as investors shift their focus away from the Greece/EU negotiations.
EUR/USD found support at the 1.1295 zone and bounced, climbing to a session high of 1.1360 in recent dealings. However, the pair lost momentum and steadied around 1.1350, where it is still 0.36% below its opening price.
EUR/USD technical outlook
From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes that the negative tone predominates in short-term charts, with moving averages capping the upside in the 1.1380 price zone. “A break below 1.1280 is required to confirm further declines towards the critical support at 1.1250, the level that contained the downside all of this February”.
EUR/USD found support at the 1.1295 zone and bounced, climbing to a session high of 1.1360 in recent dealings. However, the pair lost momentum and steadied around 1.1350, where it is still 0.36% below its opening price.
EUR/USD technical outlook
From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes that the negative tone predominates in short-term charts, with moving averages capping the upside in the 1.1380 price zone. “A break below 1.1280 is required to confirm further declines towards the critical support at 1.1250, the level that contained the downside all of this February”.