EUR/USD challenges highs near 1.1380

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The common currency remains on a firm footing on Wednesday, with EUR/USD showing strength near the 1.1380 region, or daily peaks.

    EUR/USD attention to US releases

    The pair’s upside remains well and sound during the first half of the week against the backdrop of increasing vulnerability in the greenback and mixed risk appetite trends.

    Next of relevance for the pair will be US Existing Home Sales during the month of March, followed by the weekly report on crude inventories by the EIA.

    EUR/USD levels to watch

    The pair is now up 0.14% at 1.1376 and a break above 1.1454 (2016 high Apr.7) would open the door to 1.1496 (monthly high Oct.15 2015) and then 1.1713 (high Aug.24 2015). On the flip side, the immediate support aligns at 1.1333 (20-day sma) followed by 1.1313 (23.6% Fibo of 1.0820-1.1455) and finally 1.1232 (low Apr.14).
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