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EUR/USD holding on to 1.1400

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The common currency is clinging to its meagre gains vs. the greenback on Monday, with EUR/USD treading water above the 1.1400 handle.

    EUR/USD looks to Fed for motivation

    The pair is attempting a sideline pattern in the upper end of the prevailing range at or above the 1.1400 handle, amidst a vacuum of releases in the euro area and the US economy.

    Nothing worth mention data wise today, although the closed Fed meeting will surely grab investors’ attention later in the NA session. Looking to Tuesday’s calendar, final German CPI for the month of March are due in the euro region, while Emport/Import Prices and speeches by Fed’s Harker, Williams and Lacker are expected across the pond.

    EUR/USD levels to watch

    The pair is now gaining 0.02% at 1.1404 facing the next hurdle at 1.1454 (2016 high Apr.7) followed by 1.1496 (monthly high Oct.15 2015) and finally 1.1713 (high Aug.24 2015). On the other hand, a breakdown of 1.1325 (low Apr.6) would open the door to 1.1305 (23.6% Fibo of 1.0820-1.1455) and then 1.1151 (55-day sma).
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