EUR/USD

Yesterday EURUSD initially fell but found enough support at 1.1097 to reverse and closed near the high of the day however did not had the strength to close above Fridays high, which suggests being slightly on the bullish side of neutral.

The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.

The key levels to watch are: A daily resistance at 1.1237, the 10-day moving average at 1.1170 (resistance), a swing low at 1.1141 (resistance), a daily support at 1.1097 and the 200-day moving average at 1.1070 (Support).

Key levels to watch for today:
Support: 1.1069; 1.0998;
Resistance: 1.1226; 1.1291.

The US dollar traded near its strongest levels in two months thanks to growing expectations of an impending increase in US interest rates. The greenback are quite sought after Friday's speech by Federal Reserve Chairman Janet Jelen that an increase in interest rates in the coming months would be appropriate if the economy and the labor market continue to improve.

The euro fell yesterday to 1.1097, which is the lowest value since mid-March. The single currency, however, managed to rise to 1.1150 as it reached the 200-day moving average, which proved to be strong support. For the last month the euro decreased by 2.7%, which was the first after four months of growth.

On Tuesday, the dollar continues to trade at two-month highs against other major currencies, as expectations of higher interest rates in the US next month, continues to support the national currency, while investors awaited the release of US statistics later in the session. The EUR/USD almost unchanged at 1.1136, compared with the 10-week low of 1.1097 on Monday.

The EUR/USD is having a tough time today consolidating towards the level of 1.1150. Low volumes are a sign of tension building so you might want to be careful in the coming days as a sharp move might be coming.

The dollar rose slightly against a basket of major currencies on Tuesday after US economic data did not support expectations of an increase of the interest rate the Fed in June or July. The dollar index by 15.29 GMT+1 was trading at 95.829, down from a two-month peak of 95.968 reached on Friday. The euro rose to a session high of $ 1.1173, moving away from more than 10-weeks minimum set on Friday ($1.1096), but then fell to $ 1.1130.

US macro updates dragged EUR/USD to daily low at 1.1132 and the daily high couldn’t move above 1.1171. The pair is still under pressure around the support at 1.1100 (200-day EMA).

The pair closed around 1.1130/40 zone, almost unchanged from yesterday. Upside still limited to 1.12 level, and downside support level can be found at 1.109, very tight range for now.

The euro recorded a volatile session against the dollar on Tuesday. Although the pair varied widely in the end opening price session was similar to the closing price, respectively, 1.1136 and 1.1131. Bulls prevailed in the early hours and the peak for the day was marked at 1.1172. Short-term expectations remain in favour of the euro. Support is seen at 1.1069 and 1.0998. Resistance is located at 1.1226, followed by 1.1291.

Yesterday EURUSD tried to rally but found enough yet again enough resistance at 1.1164 the 10-day moving average to turn around and close near the low of the day however managed to close within the previous day range, which suggests being slightly on the bearish side of neutral.

The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.

The key levels to watch are: A daily resistance at 1.1237, the 10-day moving average at 1.1164 (resistance), a swing low at 1.1141 (resistance), a daily support at 1.1097 and the 200-day moving average at 1.1070 (Support).

The EURUSD attempted to push higher yesterday topped at 1.1173 but whipsawed to the downside and closed lower at 1.1130 and hit 1.1117 earlier today. The bias is bearish in nearest term testing the lower line of the bullish channel and 1.1100 – 1.1050 area which remains a good place to buy with a tight stop loss. On the upside, key intraday resistance remains around 1.1180 (daily EMA 200). A clear break and daily close above that area could trigger further bullish pressure testing 1.1250 or higher. On the downside, a clear break and daily close below 1.1050 would reactivate my bearish mode targeting 1.0800 area.

The euro fell against the US dollar on Tuesday to 1.1132, shedding 0.06%. Support is now at around 1.1096 - Monday's low, and resistance is likely to make the level of 1.1218 - maximum of Thursday.

On Wednesday, the dollar is lower against other major currencies as well as mixed US economic reports that were released in the previous session, continue to put pressure on the dollar. Ambiguous data prompted investors to slightly revise expectations for timing the next Fed rate increase. The EUR/USD rose 0.24% to 1.1159.

Support: 1.1069; 1.0998; Resistance: 1.1226; 1.1291.

Today, the dollar fluctuates slightly below the maximum of two months to a basket of major currencies after a series of mixed economic data from the United States a little tempered expectations Fed rate to rise in the near future. The euro weakened 0.1 percent to $ 1.1119, staying above the minimum of 2.5 months set on Monday.

The EUR/USD marks a somewhat positive day today up about 30 pips to currently trade at 1.1160. Market sentiment remains to be bearish with the latest commentary from FED Chair Janet Yellen to raise rates gradually. First resistance is seen at 1.12, first support is seen at 1.11.

Despite the bullish move today EUR/USD still couldn't break above 1.1180. It looks very undecided now and it will likely remain that way until the fundamentals tomorrow.

Dollar remain under pressure ahead of ECB economic policy meeting early Thursday, the pair has limited downside movement. On the upside I'm waiting for break out of 1.12 psychological resistance level.