EUR/USD clings to gains near 1.1150 ahead of EMU data

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The shared currency has surrendered part of its earlier gains on Monday, now taking EUR/USD to the 1.1155/50 band.

    EUR/USD eyes on EMU data, ECB

    The pair continues to look for a clear direction while market participants keep adjusting to the recent stimulus measures announced by the ECB, leaving behind last week’s bouts of volatility and consolidating instead in the mid-1.1100s for the time being.

    Ahead in the session, EMU’s Industrial Production figures are only due while no data is expected across the pond until tomorrow’s key CPI figures and February’s Retail Sales.

    EUR/USD levels to watch

    The pair is now up 0.03% at 1.1155 facing the next resistance at 1.1218 (post-ECB high Mar.10) ahead of 1.1339 (high Fe.9) and then 1.1379 (2016 high Feb.11). On the other hand, a breakdown of 1.1042 (200-day sma) would expose 1.1025 (55-day sma) and finally 1.0820 (post-ECB low Mar.10).
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