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EUR/USD keeps highs near 1.1220, EMU data eyed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The shared currency is trading almost unchanged vs. the greenback, taking EUR/USD to the area of recent highs around 1.1220.

    EUR/USD focus on EMU’s CPI

    A dovish tone from the FOMC statement on Wednesday has triggered a sharp sell-off in the dollar, allowing the pair to regain the area of peaks post-ECB beyond 1.1200 the figure.

    Ahead in the session, EMU’s final CPI figures for the month of February are due while Initial Claims and the Philly Fed manufacturing index will take centre stage across the pond.

    EUR/USD levels to watch

    The pair is now up 0.01% at 1.1224 and a breakout of 1.1241 (post-FOMC high Mar.16) would target 1.1339 (high Fe.9) en route to 1.1378 (2016 high Feb.11). On the other hand, the next support aligns at 1.1123 (38.2% Fibo of 1.0709-1.1378) ahead of 1.1043 (200-day sma) and finally 1.1036 (20-day sma).
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