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EUR/USD edging higher towards 1.1380

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD continues to benefit from the offered tone surrounding the dollar, now aiming to test 1.1380.

    EUR/USD finds support at 1.1300

    The pair has managed to revert the initial negative tone, finding support in the 1.1300 neighbourhood and climbing towards current levels backed by an acceleration of the selling interest around the greenback and amidst a strong rebound in the risk appetite.

    Positive Economic Sentiment in Germany and the euro area is also collaborating with the upside, along with poor results from US Housing Starts and Building Permits.

    EUR/USD levels to watch

    The pair is now up 0.58% at 1.1379 and a break above 1.1454 (2016 high Apr.7) would open the door to 1.1496 (monthly high Oct.15 2015) and then 1.1713 (high Aug.24 2015). On the flip side, the immediate support aligns at 1.1219 (38.2% Fibo of 1.0820-1.1455) followed by 1.1190 (55-day sma) and finally 1.1142 (low Mar.24).
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