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EUR/USD in highs post-US data, around 1.1180

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The single currency is picking up pace vs. the greenback in the wake of US releases, taking EUR/USD to the 1.1175/80 band, or daily highs.

    EUR/USD firmer on releases

    The pair has gathered further traction after US advanced trade deficit has widened to $63 billion during February, while Personal Income rose 0.2% vs. 0.1% expected and Personal Spending matched estimates, advancing at a monthly pace of 0.1%.

    Further data saw US inflation figures tracked by the Core PCE advancing
    1.7% on a year to February, a tad below consensus at 1.8% and matching January’s print.

    EUR/USD levels to watch

    The pair is now advancing 0.07% at 1.1176 and a break above 1.1344 (high Mar.17) would target 1.1378 (2016 high Feb.11) en route to 1.1496 (monthly high Oct.15 2015). On the other hand, the next support lines up at 1.1126 (20-day sma) ahead of 1.1099 (50% Fibo of 1.1379-1.0820) and finally 1.1039 (200-day sma).
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