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EUR/USD eases from highs, back near 1.1300

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    After testing fresh highs near 1.1350, EUR/USD has surrendered part of those gains and is now hovering over the 1.1300 neighbourhood.

    EUR/USD propped up by USD-selling

    Spot has gained around three big-figures since yesterday’s lows near the 200-day sma in the mid-1.1000s after market participants have perceived the FOMC statement as more dovish than initially expected, triggering a violent sell off in the greenback.

    Next on tap in the US calendar will be Initial Claims, the Philly Fed survey and JOLTs Jobs Opening.

    EUR/USD levels to watch

    The pair is now up 0.74% at 1.1308 and a breakout of 1.1343 (high Mar.17) would target 1.1378 (2016 high Feb.11) and then 1.1460 (monthly high Sep.18 2015). On the other hand, the next support aligns at 1.1123 (38.2% Fibo of 1.0709-1.1378) ahead of 1.1043 (200-day sma) and finally 1.1036 (20-day sma).
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