EUR/USD better bid as top performer with Yen

By FXStreet FXStreet (Guatemala) – EUR/USD is making fresh highs on a strong recovery from the overnight lows of 1.0804. The volatility in the market is seeing a stronger Yen and euro again as the best performers in cautious market conditions. However, the Yuan fix was yet again neutral for a 5th consecutive day while otherwise the theme remains with the current trends in the absence of data currently.

However, for the day ahead, We get the account of the ECB’s last meeting, which analysts at Rabobank suggested, “might be interesting given clear splits on where to go from here – and that was before the January meltdown began.” “The December ECB easing underwhelmed market expectations making today’s account more interesting,” explained Martina Song, analyst at Westpac.

EUR/USD levels

Technically, a break onto the 1.09 handle would expose this year’s highs so far of 1.0969 and bring in prospects of the 100 and 200 dma’s at 1.1015 and 1.1042 respectively. To the downside, 1.0812 needs to give to open up 2016 lows of 1.0710 and Dec lows of 1.0518.
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Source:: FX Street