EUR/USD climbs to highs near 1.1040, EMU data eyed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The shared currency is trading on a firmer footing vs. the greenback on Thursday, lifting EUR/USD to test session highs in the 1.1035/40 band.

    EUR/USD focus on EMU’s CPI

    The pair has recovered the positive territory after bouncing off fresh lows in the mid-1.0900s on Wednesday, the lowest level in the last three weeks and home of the 100-day sma.

    In the meantime, risk trends lack of a clear direction for the time being, with Asian markets closing in a mixed fashion and Chinese equities down more than 4%.

    Ahead in the session, German HICP are due later followed by EMU’s credit figures and the more relevant final CPI reading for the month of January. Across the pond, speeches by Fed’s Lockhart and Williams, Durable Goods Orders and Initial Claims will be in the limelight.

    EUR/USD levels to watch

    The pair is now up 0.24% at 1.1034 facing the next hurdle at 1.1048 (200-day sma) followed by 1.1112 (20-day sma) and finally 1.1220 (23.6% Fibo of December up-move). On the flip side, a break below 1.0974 (55-day sma) would expose 1.0955 (low Feb.24) and finally 1.0867 (76.4% Fibo of December up-move).
    For more information, read our latest forex news.

Share This Page

free forex signals