EUR/USD keeps falling, 1.0750 on sight

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The common currency is sharply lower vs. the dollar today, with EUR/USD now hovering over the 1.0760 area.

    EUR/USD extends losses post-CPI

    Spot has intensified the downside momentum after consumer prices in the euro area have decelerated during December, rising at an annual pace of 0.2% vs. 0.3% initially forecasted. Previously, German unemployment has decreased more than estimated during the last month.

    The pair has surrendered nearly two big-figures since yesterday’s tops around 1.0950 amidst a better environment surrounding the greenback.

    EUR/USD levels to consider

    At the moment the pair is down 0.63% at 1.0761 and a break below 1.0738 (38.2% Fibo of 1.0538-1.1059) would expose 1.0538 (low Dec.3) and finally 1.0456 (2015 low Mar.16). On the other hand, the next resistance lines up at 1.0861 (61.8% Fibo of 1.0538-1.1059) followed by 1.1046 (200-day sma) and then 1.1157 (downtrend from 1.1713).
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