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EUR/USD muted post-US data, near 1.0730

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The common currency has paid little attention to the US releases today, leaving EUR/USD practically unchanged in the 1.0730 area.

    EUR/USD supported at 1.07, Fedspeak eyed

    The pair is struggling to gather traction today in spite of bouncing off earlier lows around 1.0700 the figure in response to dovish comments by ECB’s M.Draghi. Furthermore, spot kept the composure after US Initial Claims have missed expectations in the week ended on November 6, coming in at 276K vs. 270K anticipated.

    Ahead in the session, the greenback will take centre stage in light of the slew of Fed speakers: Yellen, Bullard, Evans, Dudley and Fischer.

    EUR/USD levels to watch

    As of writing the pair is losing 0.08% at 1.0733 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 1.0909 (downtrend from 1.1496) would target 1.0988 (76.4% Fibo of 1.1496-1.0706) en route to 1.1086 (200-day sma).
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