EUR/USD back around 1.0900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The shared currency keeps the buoyant tone today, with EUR/USD gyrating around the 1.0900 handle ahead of the NA session.

    EUR/USD boosted by China

    The risk aversion amongst traders keeps ruling the sentiment at the end of the week, with spot now navigating the 1.0900-1.0920 area ahead of the opening bell in Wall St.

    In a context dominated almost exclusively by China, the upcoming events in the US calendar could bring in further volatility in the pair. In fact, December Retail Sales are due followed by Industrial Production, the Reuters/Michigan index and the speech by Fed’s Bullard.

    EUR/USD levels to watch

    The pair is up 0.36% at 1.0904 with the next resistance at 1.0969 (high Jan.11) followed by 1.1010 (100-day sma) ahead of 1.1059 (high Dec.15). On the downside,
    a breakdown of 1.0798 (61.8% Fibo of 1.0538-1.1059) would aim for 1.0709 (low Jan.5) and then 1.0538 (low Dec.3).
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