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EUR/USD fails to clinch 1.0900… for now

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD has been rejected from the boundaries of the 1.0900 handle in earlier trade, although it so far manages to keep the trade in the upper1.0800s.

    EUR/USD now looks to the US docket

    Spot keeps the upbeat tone during the second half of the week, advancing for the second session in a row and extending the rebound from recent troughs in the 1.0820 area.

    However, the extent of the current advance will face a difficult test in light of the upcoming ECB meeting and the prospects of additional easing measures by the central bank, all in order to wake up the stagnant inflation figures in the region.

    EUR/USD levels to watch

    The pair is now up 0.23% at 1.0891 facing the next up barrier at 1.0925 (100-day sma) ahead of 1.1046 (200-day sma) and then 1.1123 (38.2% Fibo of December up-move). On the flip side, a breakdown of 1.0823 (low Mar.2) would target 1.0777 (low Jan.21) en route to 1.0709 (2016 low Jan.5).
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