EUR/USD challenges lows near 1.0860

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The demand for the single currency remains subdued during the European afternoon, with EUR/USD now testing the lower end of the range near 1.0860.

    EUR/USD lower on risk-on trade,

    Auspicious results from the German ZEW Survey and the final inflation figures in the euro area during December have failed to ignite some lasting recovery in the pair (if any at all), which is so far posting its second consecutive session with losses.

    In the meantime, the US markets will return to the normal activity today, where the NAHB index and the TIC Flows will be in the limelight later in the session.

    EUR/USD levels to watch

    The pair is down 0.28% at 1.0867 and a break below 1.0798 (61.8% Fibo of 1.0538-1.1059) would aim for 1.0709 (low Jan.5) and then 1.0538 (low Dec.3). On the upside, the next hurdle aligns at 1.0987 (high Jan.15) followed by 1.0997 (100-day sma) ahead of 1.1059 (high Dec.15).
    For more information, read our latest forex news.

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