EUR/USD clings to 1.1250, looks past data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD continues to hover around 1.1250/60 unable to set intraday direction despite disappointing US consumer price data and comments from Fed’s Lockhart saying he will no longer advocate for a rate hike in April, but sees two or three hikes this year as possible.

    EUR/USD dipped to a low of 1.1233 during the European session but found support, and has spent the rest of the day in a slim range, as most pairs. At time of writing, EUR/USD is trading at 1.1258, 0.15% below its opening price.

    On the data front, Eurozone CPI came in at 1.2% in annual basis, matching market’s expectations while US consumer inflation rose 0.9% in March, below the 1.2% of forecast.

    EUR/USD levels to watch

    As for technical levels, next supports could be found at 1.1233 (Apr 14 low), 1.1178 (50-day SMA) and 1.1144 (Mar 24 low). On the other hand, resistances line up at 1.1305 (20-day SMA), 1.1390 (Apr 13 high), 1.1464 (2016 high, Apr 12) and 1.1494 (Oct 15 high).
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