EUR/USD bounced off hourly 200-MA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The EUR/USD pair has moved to 1.0930 after flirting with the hourly 200-MA located at 1.0921 levels for the last couple of hours.

    Awaits US data

    The traders await the US data releases – personal spending and income report, durable goods orders report. The markets would be interested to see if the labor market strength is translating into higher household spending. Meanwhile, the durable goods orders would throw a light on the corporate spending.

    Apart from the data, the common currency also remains at the mercy of the sentiment on the Wall Street.

    EUR/USD Technical Levels

    A break below 1.0890 (38.2% of 1.1495-1.0517), would expose the support at 1.0803 (Dec 17 low). On the other hand, a break above 1.0940 (61.8% of Mar-Aug rally) would open doors for a re-test of 1.1006 (50% of 1.1495-1.0517).
    For more information, read our latest forex news.

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