EUR/USD dips below 1.0900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - EUR/USD pushed a tad lower and printed fresh daily lows during the New York session with the dollar getting a boost from better-than-expected confidence data amid thin liquidity.

    EUR/USD dipped below the 1.0900 level and hit a daily low of 1.0873, erasing almost completely previous weekly gains. EUR/USD had reached a high of 1.0983 on Tuesday but faltered ahead of the 1.10 mark. Having lost more than a hundred pips ever since, the pair is currently trading at 1.0880, down 0.68% on the day.

    With markets in holiday-mode and no top-tier data in the calendar, majors are expected to trade directionless within their recent ranges over the next sessions.

    EUR/USD levels to watch

    As for technical levels, next supports are seen at 1.0828 (21-day SMA), 1.0795 (Dec 7 low), 1.0700 (psychological level) and 1.0635 (Dec 1 & 2 highs). On the flip side, resistances could be found at 1.1010 (Dec 10 high), the 1.1055-66 area (100-day SMA/50-week SMA) and then 1.1095 (Oct 28 high).
    For more information, read our latest forex news.

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