EUR/USD recovers further, near 1.0750

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The selling pressure around the shared currency now seems to have eased a tad, with EUR/USD trading closer to the 1.0750 level.

    EUR/USD attention to CPI figures

    The pair is coming back from Paris-led lows near 1.0680 posted at the beginning of the Asian session, managing to regain the 1.0700 mark and advance further as sentiment continues to improve.

    In the data space, final October’s inflation figures in the region are due later in the session, followed by a speech by President M.Draghi and the Empire State index in the US economy.

    EUR/USD levels to watch

    As of writing the pair is losing 0.09% at 1.0741 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 1.0851 (downtrend from 1.1496) would target 1.0987 (61.8% Fibo of 1.1496-1.0673) en route to 1.1080 (200-day sma).
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