EUR/USD in session highs, 1.07 closer

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 25, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The buying interest is now picking up pace around the single currency, helping EUR/USD to clinch fresh highs in the 1.0690 area.

    EUR/USD stronger ahead of US data

    The pair is up more than a big-figure since recent lows in the 1.0590 area, bolstered by a softer tone in the greenback after being rejected once again from key resistance levels.

    Absent data releases in Euroland today, market participants will look to the heavy US calendar for cues on the price action, as Initial Claims, PCE, Durable Goods Orders will take centre stage later in the NA session.

    EUR/USD levels to watch

    As of writing the pair is up 0.35% at 1.0683 with the next hurdle at 1.0805 (23.6% Fibo of 1.1496-1.0591) ahead of 1.0829 (high Nov.12) and finally 1.1058 (200-day sma). On the other hand, a breach of 1.0591 (low Nov.23) would target 1.0519 (low Apr.13) en route to 1.0456 (2015 low Mar.16).
    For more information, read our latest forex news.

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