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EUR/USD looks for direction near 1.0750

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The single currency is marginally lower vs. the greenback on Tuesday, taking EUR/USD to the 1.0745/50 band ahead of the European open.

    EUR/USD rangebound, unmotivated

    Spot keeps the low-1.07s after yesterday’s unsuccessful attempt to regain the 1.08 mark during the morning in Europe, backed by a generalized selling mood around the dollar after Friday’s Payrolls.

    In the meantime, scarce volatility and a vacuum of relevant releases in both Euroland and the US will once again leave the pair to the mercy of the broader risk trends, with the potential Fed’s lift-off in December as the main theme hovering over the global markets.

    EUR/USD levels to watch

    As of writing the pair is down 0.11% at 1.0744 and a break below 1.0706 (low Nov.6) would open the door to 1.0600 (psychological level) and finally 1.0519 (low Apr.13). On the flip side, the next resistance lines up at 1.0969 (downtrend from 1.1496) ahead of 1.0988 (76.4% Fibo of 1.1496-1.0706) and then 1.1092 (200-day sma).
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