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EUR/USD keeps 1.1200 on US releases

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The shared currency keeps its positive footing today, now taking EUR/USD to the 1.1200 area a tad lower than earlier highs at 1.1210.

    EUR/USD unchanged on US data

    Spot eased some pips after US Pending Home Sales have surprised markets to the upside during February, expanding 3.5% and leaving behind January’s 3.0% contraction.

    The data follow precious mixed results from US advanced trade balance figures, Personal Income/Spending and inflation gauged by the PCE.

    In the meantime, the pair is recovering part of last week’s 2-cent pullback, coming down from recent peaks in the mid-1.1300s posted in mid-March.

    EUR/USD levels to watch

    The pair is now advancing 0.32% at 1.1202 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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