FxWirePro: EUR/USD struggles ahead of 1.20 barrier
The single currency clung to broad gains early on Thursday, but is struggling to retake the 1.20 barrier EUR/USD rallied above $1.1200 overnight on ECB comments, and last stood at $1.1187, pulling away from Wednesday's s…
The single currency clung to broad gains early on Thursday, but is struggling to retake the 1.20 barrier
EUR/USD rallied above $1.1200 overnight on ECB comments, and last stood at $1.1187, pulling away from Wednesday's session low of $1.1105
European Central Bank had yesterday downplayed the need for further monetary stimulus any time soon buoying the single currency
After setting a new low the pair is up on the day and daily RSI diverged
EUR/USD is currently trading at 1.1184, with 4-hourly Tenkan at 1.1159 seen as initial support on the downsdie, below which it could extend losses to 1.1120 (cloud base)
Resistance on the upside is seen at 1.1203 (200 DMA) ahead of 1.1208 (Session high Sep 23)
