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EUR/USD clings to gains above 1.0900

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - EUR/USD climbed to a post-Fed lift-off high on Monday with the dollar facing mild pressure and the euro outperforming other major peers, in the absence of economic news or events.

    EUR/USD rose above the 50-day SMA and reached a high of 1.0938 during the New York session, before losing steam and settling in a slim range just below. EUR/USD is currently trading at 1.0920, still recording a 0.49% gain on the day.

    US data this week includes final review of the third quarter GDP on Tuesday and durable goods orders on Wednesday. However, with the Fed left behind and markets entering low-liquidity, holiday mode, little is expected in terms of volatility over the remainder of the week.

    EUR/USD key levels


    On the upside, next resistances line up at 1.1055 (100-day SMA), 1.1095 (Oct 28 high) and then 1.1139 (Oct 23 high). On the other hand, immediate 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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