EUR/USD advances further, tests 1.0630

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 1, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The single currency keeps pushing higher on Tuesday, now sending EUR/USD to the 1.0625/30 band, or daily peaks.

    EUR/USD better bid ahead of US docket

    The pair remains on a firm footing during the first half of the week, managing to retake the 1.06 handle as the offered tone around the greenback keeps growing bigger.

    Back to the US economy, November’s manufacturing PMI gauged by Markit is due next, seconded by the key ISM Manufacturing, Construction Spending and the speech by Chicago Fed C.Evans.

    EUR/USD levels to watch

    As of writing the pair is up 0.52% at 1.0621 and a breakout of 1.0805 (monthly lows May and July) would expose 1.0829 (high Nov.12) and then 1.1012 (55-day sma). On the flip side, the immediate support aligns at 1.0519 (low Apr.13) en route to 1.0500 (psychological level) and then 1.0456 (2015 low Mar.16).
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