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EUR/USD challenges highs near 1.1180

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The shared currency has recovered the smile so far on Wednesday, pushing EUR/USD to test fresh daily tops near 1.1170.

    EUR/USD firmer, focus on FOMC minutes

    The pair is posting gains for the first time since Friday, finding quite decent support around the 1.1100 neighbourhood in a context where risk aversion and risk appetite keeps alternating the dominance.

    Absent releases in Euroland, traders’ attention will shift to the US docket, where Housing Starts, Building Permits, Producer Prices, Industrial Production and Capacity Utilization are all due later ahead of the more relevant FOMC minutes.

    EUR/USD levels to watch

    The pair is now advancing 0.18% at 1.1163 facing the next hurdle at 1.1220 (23.6% Fibo of December up-move) followed by 1.1378 (high Feb.11) and then 1.1460. On the flip side, a breakdown of 1.1059 (200-day sma) would target 1.0965 (61.8% Fibo of December up-move) and finally 1.0709 (YTD low Jan.5).
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