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EUR/USD hovers near 1.1000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - EUR/USD entered a consolidation phase over the last hours after the latest upside attempt faltered ahead of the 1.10 mark, in the absence of fundamental drivers and amid very low liquidity between the Christmas and the New Year celebrations.

    EUR/USD has traded within a 50-pip range unable to set short-term direction and it was last up 0.27% at 1.0975.

    On the data front, the Dallas manufacturing index fell to -20.1 in December from -4.9 the previous month, but failed to trigger any response from the greenback. On Tuesday, US data to be released includes S&P/Case-Shiller home price Index and consumer confidence.

    EUR/USD levels to watch

    On the upside, if EUR/USD breaks above the 1.1000/10 zone (psychological level/Dec 10 high), 1.1055 (100-day SMA/50-week SMA) and 1.1095 (Oct 28 high). On the other hand, supports could be faced at 1.0921 (10-day SMA), 1.0867 (50-day SMA), 1.0795 (Dec 7 low) and then 1.0700 (psychological level).
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