Back

EUR/USD takes-out 50-DMA on recovery from 1.0800

FXStreet (Mumbai) - After bottoming out at 1.0800 in the overnight trades, the EUR/USD pair attempts a minor-recovery beyond 50-DMA in the early Asian trades.

EUR/USD supported at 1.08 handle

Currently, the EUR/USD pair rises 0.12% to 1.0838, hovering close to fresh session highs printed at 1.0846 in opening trades. The main currency pair appears to reverse a part of the FOMC induced 1 big figure decline seen yesterday, as the US dollar corrects sharply from two-week highs reached against its major competitors. The USD index drops -0.17% to 99.03, easing-off 99.35 levels.

The overnight negative close on the Wall Street and cautious trades seen on the Asian indices so far also boosted the demand for the euro as a safe-haven. Japan’s Nikkei drops -0.66% to 19,224 after a 2-day rally while the Australian S&P/ASX is also losing -0.70% to trade at 5,066 points.

Looking ahead, the sentiment on the global equities is likely to dominate the major in absence of relevant economic data in the day ahead. While unwinding of positions heading into the Christmas week may also lend some support to the EUR bulls.

EUR/USD Technical Levels

The pair attempts recovery and finds the immediate resistance is seen at 1.0903 (5-DMA). A break beyond the last, doors will open for a test of 1.0933/34 (1h 200-SMA/ 10-DMA). On the flip side, the immediate support at 1.0800 (round number), below which 1.0736 (daily S2) could be tested.

BOJ preview: What to expect in USD/JPY?

USD/JPY has halted its corrective slide from 1-week highs and now appears to consolidate around 122.50, in a 15-pips tight range as markets turn cautious heading into the Bank of Japan (BOJ) monetary policy decision due expected to be out by 0300-0.430GMT today. The major spiked to fresh weekly highs to 122 in the US last session on the back of a strong rally in the US dollar against it major competitors, led by Wednesday’s historic Fed rate hike and also after the Dots chart surprised markets by showing four rate hikes next year are in place.
আরও পড়ুন Previous

China House Price Index increased to 0.9% in November from previous 0.1%

China House Price Index increased to 0.9% in November from previous 0.1%
আরও পড়ুন Next