EUR/USD 1,4289

Euro recovery from last week lows at 1.3970 halted at 1.4335 on early Asian session, -10 pips shy of May 20 high- and weighed by faltering risk appetite, the pair pulled back in Asia, dipping below 1.4300 to hit session lows at 1.4255 ahead of the European opening.

Below 1.4255 (day low), the pair might find support at 1.4185/00 (May 26 high/day low), and 1.4065 (May 26 low). On the upside, immediate resistance lies at 1.4300 (intra-day level), and above here, 1.4335/40 (day high/May 20 high) and 1.4425/40 (May 9/11 highs).

Technically, the pair lies at an important price area, according to Alberto Muñoz, analyst at FXstreet.com: "In the case of EURUSD, a strong close above 1.4300 would indicate we will have a bullish rally in the next days. On the other hand, a close below 1.4200 would mean the market is going to test recent lows."

source: fxstreet.com

EUR/USD 1,4105

Market's mood has flipped to risk-off again at mid American session, with commodities and stocks reversing earlier gains while currencies linked to commodities are retreating from session's highs against the Greenback.

The bounce of AUD/USD was capped by the 1.0580 resistance area during the NY session forcing the cross to pullback toward the 1.0530 zone where the fall was contained. At time of writing, AUD/USD hovers around 1.0540/50, 0.40% above its opening price while gold has retreated from $1527 an ounce to trade barely above $1520/oz.

The Loonie is also losing ground against the Greenback as oil erases previous gains. Crude for July has fallen to $98.50 a barrel after peaking at $100. USD/CAD has moved in sync to the upside, halting at the 0.9790 area where it is little changed since opening.

NZD/USD has backed away from 0.8014 where it set a fresh 3-week high and currently is trading around 0.7960.

source: fxstreet.com

EUR/USD 1,4167

The hegemonic currency faced another sell-off round after Fitch rating agency downgraded Greece from BB+ to B+ and after Norway suspended a EUR 25 million grant to Greece as this latter did not fulfill commitments and may have broken rules. The Norway's Foreign Ministry also said in a statement that Greece has to explain how the funds have been spent.

High volatility amid low volume persists in the FX market this Friday while commodities and stocks are reversing early losses.

EUR/USD sank below 1.4200 and hit the lowest price in 3 days at 1.4138 on the news, although it found strong support and has managed to trim part of today's losses. EUR/USD has recovered around 50 pips within the last hours and currently is testing the 1.4190/1.4205 area, former support, now resistance.

If the cross manages to break above, stops around 1.4210 could be trigger, exposing next resistance at the 1.4250 zone, while on the downside, below 1.4140, 1.4120/25 and 1.4050 are further support.

source: fxstreet.com

EUR/USD 1,4245

The Euro bounced up from 1.4120 low yesterday to regain lost ground in US session and breach 1.4250 resistance during Asian trade, to stall below 1.4285 during European session, with previous resistance area, at 1.4240/50 offering support so far.

Immediate resistance lies at the mentioned 1.4285 (day high), above here, 1.4340 (May 13 high) and 1.4425 (May 11 high). On the downside, support levels are 1.4230/40 (day lows), and below here, 1.4125 (day low) and 1.4080/85 (intra-day support).

On the longer-term, Ron William, technical strategist at MIG Bank, warns about a bearish engulfing pattern on the monthly chart, which threatens the bullish move of the previous 5 months: "1.4125 (day low), and below here, 1.4080/85 (intra-day support)."

source: fxstreet.com

EUR/USD 1,4209

Greenback lost momentum across the board as stocks recover ground in Wall Street. EUR/USD rose more than 60 pips in the last hour climbing back above 1.4200.

The pair soared after hitting a daily low at 1.4120 and reached a new high at 1.4235. To the upside the Euro might face immediate resistance around 1.4245 where yesterday’s high lie.

source: fxstreet.com