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EUR/USD around 1.1280 on US data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The shared currency keeps its daily gains vs. the greenback, with EUR/USD navigating the 1.1280 area.

    EUR/USD still capped around 1.1300

    Spot remains in the upper bound of the daily range, fading the post-FOMC spike to the mid-1.1300s and reverting at the same time the initial drop towards 1.1240/30. The pair has kept the composure after the Chicago Fed National Activity index dropped to -0.29 during February, missing expectations at 0.25 and down from January’s 0.41.

    Ahead in the session, US Existing Home Sales is due followed by the speech by Atlanta Fed’s D.Lockhart.

    EUR/USD levels to watch

    The pair is now up 0.03% at 1.1274 and a breakout of 1.1344 (high Mar.17) would target 1.1378 (2016 high Feb.11) and then 1.1496 (monthly high Oct.15 2015). On the flip side, the immediate support aligns at 1.1220 (23.6% Fibo of 1.0709-1.1378) ahead of 1.1073 (20-day sma) and finally 1.1043 (200-day sma).
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