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EUR/USD advances further to 1.1360

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The common currency paid little attention to the EMU releases today, now pushing EUR/USD to print fresh peaks around 1.1360/65.

    EUR/USD ignored releases

    Spot has practically ignored EMU’s releases today, where the Current Account surplus shrunk to €17.7 billion during August vs. July’s €25.6 billion and €20.1 billion initially estimated.

    In the meantime, the upbeat tone around EUR remains intact following the European open, where the major indices are showing a mixed performance. Ahead in the session, US Building Permits and Housing Starts will be in the limelight along with speeches by Fed’s Dudley, Powell and Yellen.

    EUR/USD relevant levels

    As of writing the pair is advancing 0.27% at 1.1358 with the next hurdle at 1.1466 (downtrend from May’14 top) followed by 1.1500 (psychological handle) and then 1.1714 (high post-PBoC move Aug.24). On the downside, a breach of 1.1300 (psychological level) would target 1.1240 (55-day sma) en route to 1.1229 (2-month uptrend).
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