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EUR/USD in highs near 1.1130 on US data

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The European currency is recovering further ground following today’s US docket, with EUR/USD regaining the 1.1100 handle and beyond.

    EUR/USD turns positive post-US releases

    The pair has returned to the positive territory after mixed US results saw headline Retail Sales contracting at a monthly pace of 0.1% during February, while Sales excluding the Auto sector has expanded 0.3% during the same period.

    Further results saw the NY Empire State index surpassing estimates at 0.62 for the current month and headline Producer Price Index contracting in line with expectations 0.2% MoM in February.

    EUR/USD levels to watch

    The pair is now up 0.14% at 1.1119 and a break above 1.1218 (post-ECB high Mar.10) would target 1.1339 (high Fe.9) en route to 1.1379 (2016 high Feb.11). On the other hand, the next support aligns at 1.1043 (200-day sma) followed by 1.1026 (55-day sma) and finally 1.0820 (post-ECB low Mar.10).
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