EUR/USD muted post-German data, near 1.0760

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The shared currency has paid no attention to the German data on Monday, with EUR/USD navigating the 1.0770 area so far.

    EUR/USD indifferent on data, focus on Sentix

    The pair is gradually inching higher following Friday’s slump to the 1.0700 neighbourhood after the stellar US Payrolls during October (271K). In the meantime, the pair has managed to get some traction in response to the disappointing releases in China, where the trade surplus has missed estimates during October and exports and imports have both come in below expectations.

    Data wise in the region, German trade surplus has come in short of expectations at €19.4 billion during September, while the Sentix index is due later. Across the pond, the only release of note will be the Fed’s Labor Market Conditions Index (LMCI) followed by Rosengren’s speech.

    EUR/USD levels to watch

    As of writing the pair is up 0.15% at 1.0760 facing the next hurdle at 1.0988 (76.4% Fibo of 1.1496-1.0706) followed by 1.1095 (200-day sma) and then 1.1130 (100-day sma). On the other hand, a break below 1.0706 (low Nov.6) would open the doot to 1.0600 (psychological level) and finally 1.0519 (low Apr.13).
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