EUR/USD muted post-EMU data, around 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
    Likes Received:
    FXStreet (Edinburgh) - The single currency remains within the daily range vs. the greenback on Monday, with EUR/USD navigating the area of 1.0730 so far.

    EUR/USD indifferent to CPI

    The pair kept the composure despite consumer prices in the euro area have come in better than expected during October, with headline CPI up 0.1% on a yearly basis and Core prices advancing 1.1% YoY.

    The pair has managed to revert the initial drop to the 1.0680 area, although gains appears limited around the 1.0760 area ahead of the speech by President M.Draghi.

    EUR/USD levels to watch

    As of writing the pair is losing 0.09% at 1.0741 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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