EUR/USD Analysis: Rejection at 1.1206 could reinforce bears

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The EUR/USD pair spiked to a high of 1.1220 on Monday after US data showed retreating inflation and a downward revision to consumer spending. The data sets weighed over prospects of a sooner-than-expected Fed rate hike and triggered a broad based sell-off in the USD. European traders are making a comeback after Easter Monday holidays and thus action in the equity markets would influence demand for the common currency. However, main event for the day is the US Fed President Yellen’s speech.

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