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EUR/USD ignores US data, keeps 1.0730

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The shared currency keeps the range vs. the dollar on Monday, with EUR/USD meandering the 1.0735/30 band so far.

    EUR/USD muted post data

    Spot kept the composure after the US NY Empire State manufacturing index has missed expectations for the current month, coming in at -10.74 vs. -6.00 expected and -11.36 previous.

    The pair keeps the tight range so far, navigating in the low-1.0700s and with gains somewhat limited around 1.0760.

    Previously, October’s final CPI figures in the euro area showed core consumer prices rising 1.1% on a yearly basis vs. 1.0% from the preliminary readings.

    EUR/USD levels to watch

    As of writing the pair is losing 0.13% at 1.0736 facing the next support at 1.0658 (low Apr.21) followed by 1.0600 (psychological level) and finally 1.0519 (low Apr.13). On the other hand, a breakout of 1.0851 (downtrend from 1.1496) would target 1.0987 (61.8% Fibo of 1.1496-1.0673) en route to 1.1080 (200-day sma).
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