EUR/USD keeps 1.10 post-EMU releases

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The shared currency has kept the composure following EMU data, with EUR/USD hovering over the 1.1000 mark so far.

    EUR/USD weaker on data, sentiment

    Spot remains entrenched in the negative territory today after the overnight stab to the 1.1070 area lacked of follow through. Renewed sentiment towards the risk-on trade following a strong performance of European equities has removed support for the euro ahead of the key German flash CPI due later.

    EUR has also suffering the poor releases in the euro area, where Economic Sentiment, Business Climate and Consumer Confidence have all missed expectations for the current month.

    EUR/USD levels to watch

    The pair is now losing 0.05% at 1.1018 and a break below 1.0974 (55-day sma) would expose 1.0955 (low Feb.24) and finally 1.0867 (76.4% Fibo of December up-move). On the other hand, the immediate hurdle aligns at 1.1120 (20-day sma) ahead of 1.1220 (23.6% Fibo of December up-move) and then 1.1379 (2016 high Feb.11).
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