EUR/USD keeps 1.0900 on EMU data

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The shared currency remains above the 1.0900 handle today, with EUR/USD currently hovering over 1.0910/15.

    EUR/USD muted on EMU releases

    The pair kept the composure after January’s data in the euro area showed Industrial Confidence dropped to 3.2, Business Climate fell to 0.29, Service Sentiment has come in at 11.6 and Economic Sentiment printed 105.0, all of them below expectations. On a more optimistic side, Consumer Confidence matched estimates at -6.3.

    In the meantime, spot has managed to clinch highs near 1.0930, albeit losing some pips afterwards, all backed by a softer tone in the greenback.

    EUR/USD levels to watch

    The pair is now retreating 0.13% at 1.0878 and a breach of 1.0777 (post-ECB low Jan.21) would expose 1.0737 (38.2% Fibo of 1.0538-1.1059) and then 1.0709 (low Jan.5). On the upside, the initial barrier aligns at 1.0977 (100-day sma) followed by 1.1055 (200-day sma) en route to 1.1065 (5-month downtrend).
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