EUR/USD climbs above 1.0900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - The euro gained momentum and climbed to fresh 4-day highs versus the dollar, with EUR/USD briefly rising above 1.0900 in quiet trading as markets enter holiday mode.

    EUR/USD extended its recovery from the 1.0800 zone where it bottomed out last week, and rose through the 50-day SMA to a peak of 1.0908 in recent dealings. At time of writing, the pair is trading at 1.0898, still up 0.41% on the day.

    There is no first-tier data or speakers scheduled for the New York session while liquidity is expected to decrease during the holiday season. However, Eurozone consumer confidence data is due at 15:00 GMT while US will release its final review of the third quarter GDP on Tuesday, and durable goods orders on Wednesday,

    EUR/USD technical levels

    In terms of short-term levels, next resistances line up at 1.0927 (10-day SMA), 1.1039 (200-day SMA) and the 1.1055-66 region (100-day SMA/Dec 15 high/50-week SMA). On the flip side, supports are seen at 1.0795 (Dec 7 low), 1.0700 (psychological level) and 1.0635 (Dec 1 & 2 highs).
    For more information, read our latest forex news.

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