EUR/USD keeps falling, 1.13 on sight?

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The renewed selling mood around the single currency is taking a toll in EUR/USD, sending it to fresh session lows in the 1.1320/15 band.

    EUR/USD softer on USD-buying

    The recovery in the greenback remains well and sound at the beginning of the week, extending the upbeat momentum sparked at the end of last week and thus driving spot to fresh intraday troughs in the low-1.1300s.

    On the data front, nothing scheduled in Euroland today, whereas the NAHB index is due across the pond followed by the speech by Fed’s Lacker.

    EUR/USD relevant levels

    As of writing the pair is retreating 0.25% at 1.1320 and a break below 1.1300 (psychological level) would target 1.1232 (55-day sma) en route to 1.1216 (2-month uptrend). On the flip side, the next up barrier aligns at 1.1472 (downtrend from May’14 top) followed by 1.1500 (psychological handle) and then 1.1714 (high post-PBoC move Aug.24).
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