Forex: EUR/USD unable to fill the weekly opening gap lower

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Forex: EUR/USD unable to fill the weekly opening gap lower

FITITOL--> FXstreet.com (Barcelona) - EUR/USD is currently quoting at 1.3055, 100 pips above yesterday's and fresh 3-month lows, still unable to filling the opening gap down with which started the week, since it closed last week at 1.3084 on Friday after worse than expected NFP. Share markets had a lift Monday in Europe and the US despite the sell-off seen in Asia-Pacific, with oil also bouncing from fresh yearly lows.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “In the 4 hours chart indicators are correcting extreme oversold conditions, yet far from suggesting a strong upward pressure: expect approaches to 1.3080 to be understood as selling opportunities by market players,” the analyst says.

Immediate resistance to the upside show at current levels as April 18 lows, followed by Friday's lows 1.3075 and May 03 low 1.3094, while for the downside closest supports are seen at April 05/09 lows 1.3034, followed by March 15/April 16 lows 1.3003/1.2997 and yesterd ay's lows 1.2955.