EUR/USD halts 4-day winning streak, eases to 1.1240

Dhwani Mehta FXStreet

EUR/USD’s retreat from 1.1280 region found some support around 1.1240 levels, with the bulls now consolidating near the last, unperturbed by improved risk appetite following first US presidential election debate.

EUR/USD awaits US data for fresh direction

Currently, EUR/USD trades -0.10% lower at 1.11243, hovering within a striking distance of session lows struck at 1.1239 earlier on the day. The main currency pair pauses its four-day winning streak and slips in the red zone this Tuesday, as the US dollar remains bid across the board as markets price-in Clinton’s win after the first US election debate, triggering renewed risk-on wave across the financial markets.

Focus now shifts towards the US fundamentals lined up for release later this week, while Fed speaks, including Yellen’s testimony will also grab a lot of attention and provide fresh incentives to the major.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.1256 (Sept 16 high). A break beyond the last, doors will open for a test of 1.1286 (Sept 15 high) and from there to 1.1300 (round figure). On the flip side, the immediate support is placed at 1.1219 (Sept 26 low) below which 1.1145 (static support) and 1.1119 (Sept 21 low) could be tested.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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