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EUR/USD bulls maintain ground with eyes on 1.1400

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - EUR/USD is currently trading at 1.1380 with a high of 1.1382 and low of 1.1377.

    EUR/USD has been better bid on a mixed dollar in the US session, but staying true to the form set in the European markets as the euro attracted bids on short covering.

    The major is, however, trading in a narrow range supported by the cluster of SMA's on the hourly chart with the 20 SMA at 1.1379 and 55 SMA at 1.1371 currently. The bullish tilt comes in at 1.1220 as price diverged away from the 200 SMA on the same time frames that currently is placed at 1.1276.

    There were a lack of drivers in the US session, although we had Bullard staying true to form also, with a hawkish tone looking for liftoff while Tarullo was less encouraging and suggested that it is not appropriate to raise rates.

    EUR/USD levels

    Meanwhile, technically, the pair is in a bullish position, but warnings come on continued failures and these could result in supply with the first key support at 1hr 55 SMA (1.1369), then 1.1323 ahead of 1.1280/94 that all guard the 20 DMA at 1.1252 ahead of the golden cross between the 50/200 DMA's at circa 1.1170.
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