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EUR/USD climbs above 200-day SMA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The euro extended gains versus a weaker US dollar and climbed above the 200-day SMA to post its highest level in 6 weeks.

    EUR/USD picked up pace as the greenback faced another round of selling ahead of the Federal Reserve meeting, with the pair reaching a high of 1.1047 in recent dealings. The euro is struggling to consolidate above the 200-day SMA, with next target at 1.1060, where the 100-day SMA stands.

    There is no data scheduled for the rest of the session. Tomorrow, German/EMU ZEW surveys are due ahead of US CPI figures.

    EUR/USD technical levels

    On the upside, immediate resistances are seen at 1.1060 (100-day SMA), 1.1100 (psychological level) and 1.1139 (Oct 23 high). On the other hand, supports line up at 1.0944 (50-day SMA/Dec 14 low), 1.0925 (Dec 11 & 10 lows) and 1.0878 (Dec 9 low).


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