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EUR/US wobbles around 1.1000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - EUR/USD has surrendered initial gains and is now returning to test the 1.1000 neighbourhood ahead of the opening bell in Europe.

    EUR/USD retakes 1.10

    The selling mood around the US dollar has taken the pair back above the psychological handle at 1.10 on Wednesday, surpassing post-ECB highs in the 1.0980 area and posting multi-week tops at the same time.

    Once again, nothing worth mentioning data wise in Euroland, whereas Initial Claims and Export/Import Prices are in the limelight across the pond.

    EUR/USD levels to consider

    At the moment the pair is losing 0.18% at 1.0998 with the next hurdle at 1.1063 (100-day sma) ahead of 1.1124 (61.8% Fibo of 1.1496-1.0524) and then 1.1219 (downtrend from high May 2014). On the other hand, a break below 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0524 (low Dec.3) and finally 1.0519 (low Apr.13).
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