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EUR/USD pushes higher, 1.0950 around the corner

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The common currency remains on the upper bound of the range vs. the dollar, with EUR/USD in session peaks near 1.0930.

    EUR/USD firmer post-ECB

    The pair has seen its upside accelerated following today’s ECB Accounts for the December meeting, where several Council members remained sceptical on the possibility of further easing by the central bank.

    It is worth mentioning that the ECB has surprised investors with a rather hawkish tone last month, disappointing market expectations of further relaxation of the monetary policy.

    Next of relevance for the pair will be US Initial Claims, Export/Import Prices and the speech by St. Louis Fed James Bullard.

    EUR/USD levels to watch

    The pair is gaining 0.51% at 1.0939 with the next hurdle at 1.0995 (high Dec.27) followed by 1.1010 (100-day sma) ahead of 1.1059 (high Dec.15). On the flip side, a breakdown of 1.0798 (61.8% Fibo of 1.0538-1.1059) would aim for 1.0709 (low Jan.5) and then 1.0538 (low Dec.3).
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