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EUR/USD advances further to 1.0940

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The common currency is now accelerating its pace, sending EUR/USD to print session highs near 1.0940.

    EUR/USD stronger on USD-selling

    The poor performance of US Treasuries – with 10-year yields falling below 1.9%, lowest since late April – is removing an important tailwind for the greenback, which continues to shed gains below the 99.00 handle when tracked by the US Dollar Index.

    Nothing worth mentioning in the data space, with the IBD/TIPP index due later across the pond, followed by the speech by Fed’s E.George and the API’s report on crude oil stocks.

    EUR/USD levels to watch

    The pair is now advancing 0.36% at 1.0934 facing the next resistance at 1.0969 (high Jan.28) followed by 1.1000 (psychological level) and then 1.1053 (200-day sma). On the other hand, a break below 1.0777 (post-ECB low Jan.21) would open the door to 1.0737 (38.2% Fibo of 1.0538-1.1059) and finally 1.0709 (low Jan.5).
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