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EUR/USD keeps the red near 1.0730

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The common currency remains entrenched in the negative ground at the beginning of the week, with EUR/USD navigating around 1.0730 so far.

    EUR/USD attention to risk, US data

    The greenback continues to trade on a firmer footing vs. its main rivals following last Friday’s events in France, relegating spot to the low-1.0700s after bottoming out in the 1.0680 area.

    In the data space, US Empire State manufacturing index is due later, with consensus expecting an improvement to -5.00 for the current month. Back to Euroland, the final October CPI figures in the region have come in slightly better than the preliminary readings, although markets paid little attention.

    EUR/USD levels to watch

    As of writing the pair is losing 0.17% at 1.0731 facing the next support at 1.0658 (low Apr.21) followed by 1.0600 (psychological level) and finally 1.0519 (low Apr.13). On the other hand, a breakout of 1.0851 (downtrend from 1.1496) would target 1.0987 (61.8% Fibo of 1.1496-1.0673) en route to 1.1080 (200-day sma).
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