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EUR/USD falters ahead of 1.1000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - EUR/USD climbed further on Monday and approached the 1.1000 level as the dollar weakened across the board amid thin volume after the Christmas holiday and ahead of the New Year celebrations.

    EUR/USD advanced to a peak of 1.0992, hitting its highest level in almost two weeks, but lost momentum and gave up some of its gains. The pair is currently trading at the 1.0960 area, still 0.16% above its opening price.

    With no first-tier data scheduled for the rest of the session and liquidity extremely low, FX traders will be taking cues from oil prices action and sentiment in the stocks markets.

    EUR/USD levels to watch

    As for technical levels, short-term supports could be found at 1.0921 (10-day SMA), 1.0867 (50-day SMA), 1.0795 (Dec 7 low) and then 1.0700 (psychological level). On the flip side, next resistances are seen at 1.1010 (Dec 10 high), 1.1055 (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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