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EUR/USD in highs near 1.0930

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The shared currency is extending its upside momentum vs. the greenback on Wednesday, now lifting EUR/USD to test daily highs in the 1.0930 area.

    EUR/USD solid on German data, sentiment

    The pair gained some extra pips after German trade surplus has surpassed expectations during October, coming in at €20.8 billion vs. €20 billion initially forecasted.

    In the meantime, market sentiment keeps favouring EUR backed by the divergence in Germany-US yield spreads, with the interim resistance at the psychological 1.10 handle now at shouting distance.

    EUR/USD levels to consider

    At the moment the pair is up 0.25% at 1.0922 with the next hurdle at 1.0983 (high post-ECB Dec.3) ahead of 1.1032 (200-day sma) and then 1.1124 (61.8% Fibo of 1.1496-1.0524). On the other hand, a break below 1.0753 (23.6% Fibo of 1.1496-1.0524) would aim for 1.0524 (low Dec.3) and finally 1.0519 (low Apr.13).
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