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EUR/USD keeps lows on Sentix

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The shared currency remains on the defensive camp on Monday, with EUR/USD hovering over the 1.0820 area, or session lows.

    EUR/USD muted on Sentix

    The pair kept the composure after EMU’s Investor Sentiment tracked by the Sentix index has come in at 15.7 for the current month, missing estimates at 17.0 albeit higher than November’s 15.1. Ahead in the session, the Fed’s Labor Market Conditions Index is due ahead of the speech by J.Bullard.

    In the meantime, spot keeps the downside momentum and extends the correction lower from last week’s post-ECB tops near 1.1000 the figure, as speculations on a Fed’s lift-off next week continues to build up.

    EUR/USD levels to consider

    At the moment the pair is losing 0.54% at 1.0815 facing the next support at 1.0753 (23.6% Fibo of 1.1496-1.0524) followed by 1.0524 (low Dec.3) and then 1.0519 (low Apr.13). On the upside, a breakout of 1.0983 (high post-ECB Dec.3) would target 1.1033 (200-day sma) en route to 1.1124 (61.8% Fibo of 1.1496-1.0524).
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