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EUR/USD bounces off 1.0820

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The common currency is now attempting a rebound to the 1.0830/35 band vs. the dollar, after EUR/USD found some support around 1.0820/15.

    EUR/USD now looks to US docket

    The pair remains entrenched in the negative territory ahead of the opening bell in Wall St, coming down from the proximity of 1.0880 along with a dwindling sentiment towards the risk aversion.

    Later in the NA session, US S&P/Case-Shiller index is due, followed by Markit’s Services PMI and Consumer Confidence.

    EUR/USD levels to watch

    The pair is now retreating 0.19% at 1.0833 with the immediate support seen at 1.0777 (post-ECB low Jan.21) followed by 1.0737 (38.2% Fibo of 1.0538-1.1059) and finally 1.0709 (low Jan.5). On the other hand, a breakout of 1.0980 (100-day sma) would target 1.1054 (200-day sma) en route to 1.1059 (high Dec.15).
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