EUR/USD recovery falters at 1.1845

FXStreet (Córdoba) - EUR/USD recovery from fresh 9-year lows was capped by the 1.1845 zone during the American session, confining the pair to a phase of consolidation over the last hours.

EUR/USD fell below 1.1747 level at which the euro first traded on Jan 4, 1999 and hit a fresh 9-year low of 1.1726 before finding support. Disappointing US retail sales hurt the dollar and helped EUR/USD to regain the 1.18 mark but momentum was lacking. At time of writing, the pair is trading at 1.1805, 0.29% above its opening price.

EUR/USD levels to watch

As for technical levels, immediate resistances could be found at 1.1845 (Jan 14 high) and the 1.1870/80 zone (Jan 12 high/10-day SMA) ahead of 1.1900 (psychological level). On the other hand, supports are seen at 1.1726 (9-year low Jan 14) and 1.1700 (psychological level).