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EUR/USD flat around 1.1100

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD continues to trade around 1.1100 unable to move away from that area ahead of the Federal Reserve decision. Today, US economic data had little impact on the pair that bottomed at 1.1070 and peaked at 1.1124.

    The euro is about to end the day marginally higher against the US dollar after falling during the previous two days. It has stabilized around 1.1100 on its retreat from levels above 1.1200.

    EUR/USD outlook


    “The technical picture is for the most neutral in the short term, as in the 4 hours chart, the price recovered strongly on approaches to the 1.1065 level, the 38.2% retracement of the post-ECB rally, whilst the technical indicators hover around their mid-lines, with little directional strength”, said Valeria Bednarik, Chief Analyst at FXStreet.

    According to her, the upcoming direction in EUR/USD will depend on whether the FED is still on track of rising rates, which could see 1.1000, or if not, which could result in a rally up to 1.1245.
    For more information, read our latest forex news.
     

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