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EUR/USD clings to gains near 3 ½-month highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD advanced decently on Thursday and reached fresh 3 ½-month highs as the risk off sentiment that dominated during the European session was followed by broad USD weakness.

    A better-than-expected US jobless claims reading provided only brief relief for the greenback, with EUR/USD reaching a peak of 1.1375, last seen Oct 20, 2015. The pair lost momentum during the American afternoon and entered a sideways phase above 1.1300 in the absence of economic events. At time of writing, EUR/USD is trading at 1.1340, up 0.45% on the day.

    EUR/USD technical levels

    As for technical levels, next resistances are seen at 1.1375 (Feb 11 high), 1.1410 (Oct 13 high) and 1.1494 (Oct 15 high). On the other hand, supports could be faced at 1.1273 (Feb 11 low), 1.1160/59 (Feb 9 & 10 lows) and 1.1057 (200-day SMA).
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