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EUR/USD firmer, challenges 1.1300

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    A negative open of equity markets in the Old Continent is somewhat propping up the now bid tone in EUR/USD, which managed to regain the 1.13 neighbourhood.

    EUR/USD attention to risk, Fedspeak

    Despite the ongoing correction higher, spot remains under pressure against the backdrop of volatile sentiment following the ‘no deal’ scenario at the Doha meeting, although a more convincing break above 1.1300 the figure could need a strong catalyst.

    Ahead in the session, no events are scheduled in Euroland, whereas the NAHB index and speeches by FOMC members Dudley and Kashkari will surely keep investors entertained.

    EUR/USD levels to watch

    The pair is now up 0.13% at 1.1301 and a break above 1.1313 (20-day sma) would aim for 1.1454 (2016 high Apr.7) and then 1.1496 (monthly high Oct.15 2015). On the flip side, the initial support aligns at 1.1219 (38.2% Fibo of 1.0820-1.1455) followed by 1.1186 (55-day sma) and finally 1.1142 (low Mar.24).
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