EUR/USD on the downside, near 1.0930

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The offered tone is picking up pace around EUR now, dragging EUR/USD back to the 1.0945/40 band.

    EUR/USD ignores German data

    Spot has remained apathetic despite the positive surprise from preliminary inflation figures in Germany, showing headline consumer prices rising at an annual pace of 0.3% during October vs. 0.2% previously estimated. The broader HICP saw prices rising 0.2% YoY and 0.0% on a monthly basis.

    Next of relevance will be the speech by Atlanta Fed D.Lockhart followed by US Pending Home Sales.

    EUR/USD levels to watch

    As of writing the pair is advancing 0.06% at 1.0930 and a break above 1.1021 (76.4% Fibo of 1.0808-1.1713) would target 1.1113 (200-day sma) en route to 1.1162 (100-day sma). On the other hand, the initial support lines up at 1.0894 (low post-FOMC Oct.28) followed by 1.0847 (low Aug.5) and finally 1.0808 (low Jul.20).
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