EUR/USD ditched on improving risk sentiment, near 1.1170

By FXStreet FXStreet (Mumbai) – The USD bulls took over complete control in the late Asian session, now pushing EUR/USD towards session lows near 1.1160 region, as Asian indices continue to outperform.

EUR/USD rejected at 1.1200

The EUR/USD drops -0.31% to 1.1167, now testing fresh session low reached at 1.1162. The main currency pair almost gave back Tuesday’s gains and keeps grinding lower as the persisting risk-on trades continue to lift the sentiment around the newly pronounce risk currency – the USD while diminishing the euro’s allure as a safe-haven asset.

Markets predict a flying start to the European indices in light of the solid performance seen on the Asian stock markets, further boosting investors’ confidence.

Whilst there is nothing of relevance to be reported in the EUR calendar today, markets will closely tracking the sentiment around the European indices, which is expected to influence the funding currency in the euro.

EUR/USD Technical Levels

The pair has an immediate resistance at 1.1207 (Today’s High), above which gains could be extended to 1.1245 (Sept 3 High) levels. On the flip side, support is seen at 1.1151 (Sept 8 Low) below which it could extend losses to 1.1086 (Sept 3 Low) levels.
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Source:: FX Street