EUR/USD finds resistance at 1.4800
FXstreet.com - The Euro pulled back after posting a fresh 2-week high at 1.4817 against the Dollar. EUR/USD fell to 1.4770 and from there regain the upside but found resistance at 1.4800. Currently the pair trades at 1.4777/80, 0.62% above today's opening price.
Euro Continues to Gain
FXstreet.com (Buenos Aires) – EUR/USD sky rocketed and hit an intraday high of 1.4266 with Wall Street in positive territory: S&P reached 1000 points while DJIA tested the 9300 area and both indexes remain hovering around that zones; despite extreme overbought conditions, pair is dragging for the past 4 hours in smaller time frames, no signs of a possible correction yet are seen.
Fresh Intraday low for USD/JPY
FXstreet.com (Buenos Aires) – Japanese yen continues pushing higher amid lower U.S. yields, and print a fresh intraday low against dollar at 94.20, dragging the crosses against Euro and Gbp to fresh three-week lows. However, Wall Street halt the fall, and attempt a small recovery, after DJIA lost more than 185 points today.
August 19 th
The Japanese Yen (JPY) lost ground against most pairs as the market pared gains seen on Monday's heavy stock falls. USD/JPY raced ahead in Asia to break above 95 yen before being pushed lower in the US on broad dollar weakness. GBP/JPY was the best performer as cable surged on better economic data.
August 19 th
The Euro (EUR) enjoyed gains but was contained to the topside by strong resistance at the 1.4150 level. August German ZEW Current Conditions surged to -77 vs -89 previously. Better risk appetite is keeping the bears at bay for now. Overall the EUR/USD traded with a low of 1.4070 and a high of 1.4155 before closing at 1.4140 Looking ahead, German PPI forecast at -0.2% vs. -0.1% previously.
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