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EUR/USD clings to gains around 1.0960

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The common currency keeps its daily gains vs. the dollar on Thursday, taking EUR/USD to the 1.0955/60 band, or session tops.

    EUR/USD attention to German CPI

    The pair is looking to recover from the FOMC hangover, managing at least to bounce off the recent lows near 1.0900 the figure. Recall that spot lost more than a big-figure in the wake of the FOMC statement, where the Fed left the door (wide) open for a lift-off in December. The hawkish tone from the Committee has lifted December’s probabilities to nearly 60% from 30% before the meeting.

    On the data front, EMU’s Economic Sentiment and Business Climate are next on tap, while German inflation figures will follow in the European midday.

    EUR/USD levels to watch

    As of writing the pair is advancing 0.31% at 1.0958 and a break above 1.1021 (76.4% Fibo of 1.0808-1.1713) would target 1.1113 (200-day sma) en route to 1.1162 (100-day sma). On the other hand, the initial support lines up at 1.0894 (low post-FOMC Oct.28) followed by 1.0847 (low Aug.5) and finally 1.0808 (low Jul.20).
    For more information, read our latest forex news.
     

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