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EUR/USD finds support near 1.1080

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - After a brief test to lows in sub-1.1100 levels, EUR/USD met some buying interest and is now regaining the area of 1.1140.

    EUR/USD focus on US data, risk trends

    The pair has given away more than a big-figure since today’s tops in the 1.1180/90 band in response to a continuation of the upside momentum in the greenback following last Friday’s post-Payrolls recovery.

    In the data space, the Sentix index in the euro area has missed expectations for the current month, while the Fed’s Labor Market Conditions Index has come in at 0.4 vs. 2.5 expected and down from January’s 2.3.

    EUR/USD levels to watch

    The pair is now retreating 0.21% at 1.1130 and a breach of 1.1054 (200-day sma) would open the door to 1.0959 (100-day sma) and finally 1.0888 (55-day sma). On the flip side, the next up barrier lines up at 1.1246 (high Feb.5) ahead of 1.1496 (high Oct.15) and finally 1.1713 (post-PBoC high Aug.24).
    For more information, read our latest forex news.
     

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