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EUR/USD bounces off 1.0840

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - After hitting session lows in the 1.0840 area on Tuesday, EUR/USD has now regaining the 1.0860 area.

    EUR/USD capped by 1.0900

    The pair’s initial upside momentum has failed to surpass the 1.0900 handle today, triggering the current leg lower to the vicinity of 1.0840. In addition, the risk appetite has recovered the smile after a wrong start following the closing bell in the Asian session, where Chinese markets have posted meagre daily gains.

    Ahead in the NA session, the speech by Richmond Fed’s J.Lacker will take centre stage in an otherwise irrelevant US docket.

    EUR/USD levels to watch

    The pair is advancing 0.07% at 1.0859 facing the next hurdle at 1.1015 (100-day sma) ahead of 1.1059 (high Dec.15) and finally 1.1132 (5-month downtrend). On the other hand, a breakdown of 1.0860 (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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