EUR/USD muted on US data, near 1.1360

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The common currency has practically ignored today’s releases in the US docket, leaving EUR/USD around the 1.1355/60 band.

    EUR/USD unmotivated, keeps the red ground

    The pair remained apathetic after US Industrial Production has contracted 0.2% on a monthly basis during September, while Capacity Utilization surpassed estimates at 77.5%.

    Spot now navigates a tight range in the mid-1.1300s as the NA session unfolds and ahead of the Consumer Sentiment index tracked by Reuters/Michigan.

    EUR/USD relevant levels

    As of writing the pair is retreating 0.24% at 1.1357 and a breach of 1.1315 (Fibo 23.6% of 1.3993-1.0456) would open the door to 1.1300 (psychological level) and finally 1.1217 (55-day sma). On the other hand, the next up barrier aligns at 1.1496 (high Oct.15) followed by 1.1714 (high post-PBoC move Aug.24) and then 1.1847 (Fibo 38.2% of 1.3993-1.0456).
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