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EUR/USD keeps highs near 1.1160

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The shared currency keeps the buoyant tone vs. the greenback today, with EUR/USD navigating the upper bound of the range in the 1.1150/60 band.

    EUR/USD stronger on USD-selling

    The pair’s upside has gathered further steam after the greenback – in terms of the US Dollar Index – has broken below key support levels, allowing a stab to the 1.1150/60 region.

    The persistent selling mood in USD has offset earlier comments by President M.Draghi at his speech in the SUERF conference, emphasizing that if the central bank needs to loose further its monetary conditions, the risks of side effects would not stand in the way.

    EUR/USD levels to watch

    The pair is now advancing 0.44% at 1.1158 facing the next hurdle at 1.1200 (psychological level) ahead of 1.1496 (high Oct.15) and finally 1.1713 (post-PBoC high Aug.24). On the downside, a breach of 1.1054 (200-day sma) would open the door to 1.0906 (20-day sma) and finally 1.0777 (post-ECB low Jan.21).

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