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EUR/USD stays under pressure, approaches 1.1150


Monday, 20 May 2019 14:34 WIB

EuroEUR/USD


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The sentiment around the European currency remains depressed at the beginning of the week and is pushing EUR/USD to the mid-1.1100s following the opening bell in the Old Continent.

EUR/USD looks to trade, data

Spot is losing ground uninterruptedly since last Monday amidst rising effervescence in the US-China trade universe, declining yields in the European money markets and a generalized risk-off mood.

In fact, the pair has accelerated its recent break below the critical support at 1.1200 the figure and it has now shifted the attention to a probable visit of 2019 lows in the 1.1100 neighbourhood.

EUR/USD levels to watch

At the moment, the pair is losing 0.03% at 1.1153 and faces the next support at 1.1135 (low May 3) seconded by 1.1109 (2019 low Apr.26) and finally 1.0839 (monthly low May 2017). On the other hand, a break above 1.1242 (55-day SMA) would target 1.1264 (high May 1) en route to 1.1305 (100-day SMA).

Source: FXSTREET


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