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EUR/USD clinches 1.1350 post-US data

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD has advanced further towards session highs around 1.1350 following another poor set of results in the US docket.

    EUR/USD firmer on US calendar

    Spot has gathered further steam today after US Housing Starts and Building Permits have missed expectations during March, coming in at 1.089 million and 1.086 million, respectively.

    Today’s results add to the recent underperformance of Retail Sales and CPI figures in the US economy, giving further support to the broad-based USD selling.

    EUR/USD levels to watch

    The pair is now up 0.37% at 1.1355 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 1.1219 (38.2% Fibo of 1.0820-1.1455) followed by 1.1190 (55-day sma) and finally 1.1142 (low Mar.24).
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