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EUR/USD clings to gains near 1.1300

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The shared currency remains on the positive territory vs. the greenback on Monday, with EUR/USD gyrating around the 1.1300 mark.

    EUR/USD attention to risk, US data

    Renewed downside risks keep weighing on the US dollar at the beginning of the week, extending the offered tone since last Friday, reverting initial gains and allowing spot to regain the 1.1300 neighbourhood.

    Data wise in Europe, the next relevant event will be tomorrow’s ZEW Survey, whereas the NAHB index and speeches by Ney York Fed W.Dudley and Minneapolis Fed N.Kashkari are expected later in the NA session.

    EUR/USD levels to watch

    The pair is now up 0.12% at 1.1298 and a break above 1.1313 (20-day sma) would aim for 1.1454 (2016 high Apr.7) and then 1.1496 (monthly high Oct.15 2015). On the flip side, the initial support aligns at 1.1219 (38.2% Fibo of 1.0820-1.1455) followed by 1.1186 (55-day sma) and finally 1.1142 (low Mar.24).
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