EUR/USD bounces off 1.0570

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The common currency has managed to leave session lows vs. the greenback and is now pushing EUR/USD to the 1.0590 area.

    EUR/USD lower on USD-buying

    The re-emergence of the buying interest around the dollar keeps weighing on the pair so far, capping occasional bullish attempts around the 1.0640 region and leaving the single currency exposed to further pullbacks.

    In the data space, mixed results in the euro area have seen Economic Sentiment and Consumer Confidence surpassing expectations for the month of November, ahead of the German Gfk Survey due later in the session.

    EUR/USD levels to watch

    As of writing the pair is losing 0.12% at 1.0593 with the next support at 1.0519 (low Apr.13) en route to 1.0456 (2015 low Mar.16). On the upside, a breakout of 1.0829 (high Nov.12) would aim for 1.1054 (200-day sma) and finally 1.1078 (100-day sma).
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