EUR/USD falters ahead of 1.1400

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - EUR/USD picked up some pace and rose to fresh session highs amid no fundamental catalysts ahead of the the long weekend.

    EUR/USD stretched to its highest level in 3 weeks at 1.1386 but lacked momentum to reach the 1.1400 psychological level. The pair has eased slightly to currently trade at 1.1368, up 0.83% on the day. The euro is also headed to post its second weekly gain in a row versus the greenback.

    Looking ahead, next week major data releases include, US retail sales, September’s PPI and CPI figures, while Eurozone will also publish consumer inflation numbers and trade balance data.

    EUR/USD levels to watch

    In terms of technical levels, immediate resistances are seen at 1.1400 (psychological level), 1.1459 (monthly high Sep18) and 1.1560 (Aug 26 high). On the other hand, near-term supports line up at 1.1250 (21-day SMA), 1.1199/1.1200 (50-day SMA/psychological level) and 1.1145 (100- and 200-day SMAs crossover).
    For more information, read our latest forex news.

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