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EUR/USD firmer, advances near 1.0980

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The European currency keeps alive its march north on Thursday, sending EUR/USD to highs near 1.0980 albeit at snail pace.

    EUR/USD indifferent post-EMU data

    The pair kept the composure after October’s mixed results in the euro area saw Business Climate and Economic Sentiment coming in above estimates, while Services Sentiment missed consensus and Consumer Confidence matched forecast at -7.7.

    Next of relevance will be the preliminary inflation figures in Germany for the current month, ahead of the flash Q3 GDP figures and PCE in the US economy.

    EUR/USD levels to watch

    As of writing the pair is advancing 0.43% at 1.0971 and a break above 1.1021 (76.4% Fibo of 1.0808-1.1713) would target 1.1113 (200-day sma) en route to 1.1162 (100-day sma). On the other hand, the initial support lines up at 1.0894 (low post-FOMC Oct.28) followed by 1.0847 (low Aug.5) and finally 1.0808 (low Jul.20).
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