EUR/USD tries to recover 1.1800 zone

After falling last night to a two-day low at 1.1768, EUR/USD has gained momentum in Thursday’s European pre-opening, rising to the 1.1800 zone, where it has met resistance and has been rejected back towards 1.1770/75.

EUR pending inflation data for the Eurozone

In the next few hours, crossing operators will be watching the inflation data of the Eurozone for the month of October. Later on, USA will publish the fundamentals regarding weekly requests for unemployment subsidies, import/export prices and industrial production. Fed members Mester, Brainard, Williams, and Kaplan will also speak.

Perspective EUR / USD

With the pair now trading above 1.1775 / 80, 0.03% below its opening price, the next support emerges at 1.1741 (100-day simple moving average), seconded by 1.1693 (21-day simple moving average) and finally 1.1675 (10-day simple moving average).

On the upside, a break of the high of yesterday, 1.1862, would open the doors towards 1.1882 (October 12th maximum) and finally 1.2033 (September 20th minimum).

Written by: FXStreet