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EUR/USD off lows, back to 1.0970

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - After bottoming out in the mid-1.0900s, EUR/USD has now managed to pick up pace and return to the 1.0970 area.

    EUR/USD capped by 1.1050

    The pair is intensifying its correction lower from recent tops near 1.1050 following a renewed selling pressure around the greenback.

    The only release of note today in the euro area will be EMU’s Industrial Production during October and Italian final CPI figures during November, whereas the global sentiment will be dominated by the prospects of a Fed’s lift-off on Wednesday.

    EUR/USD levels to consider

    At the moment the pair is losing 0.20% at 1.0966 and a break below 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0524 (low Dec.3) and finally 1.0519 (low Apr.13). On the flip side, the next hurdle lines up at 1.1041 (high Dec.9) followed by 1.1060 (100-day sma) and then 1.1124 (61.8% Fibo of 1.1496-1.0524).
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