Europe’s shared currency settled Friday little moved, with downside attempts contained at 1.12. Quasimodo support at 1.1185 remains in the crosshairs south of the round number, as does the 127.2% Fibonacci extension point at 1.1150 and 50.00% retracement ratio at 1.1146.
Fed by an additional wave of dollar bids – DXY crossed 97.50 – EUR/USD fell for a second consecutive session Thursday and shook hands with the 1.12 figure on the H4 timeframe.
Sterling witnessed a sharp change in mood Wednesday, unable to maintain a presence above 1.25 on the H4 timeframe. Undermined on the back of a resurgent dollar, GBP/USD established firm position sub 1.25 and, going forward, suggests 1.24 and April’s opening level at 1.2395 may make a show.
Europe’s single currency extended upside Tuesday amid healthy Eurozone PMIs and additional dollar softening under 97.00 (DXY). Despite an early rebound from the underside of 1.13 on the H4 during early London hours (see M30 for clearer view), the level eventually yielded and unlocked the door to Quasimodo resistance nearby at 1.1340, which held into the close.
Dear Trader,
Please find our updated Trading schedule for Dragon Boat Festival Holiday on Thursday, 25th June 2020 . Times mentioned below are Platform time (GMT +3).
