EUR/USD regains 1.07 and wants more

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The buying interest seems to have returned around the common currency on Thursday, pushing EUR/USD beyond the 1.0700 handle.

    EUR/USD supported near 1.0660

    The pair’s correction lower from overnight peaks near 1.0720 has found decent support around 1.0660, as the greenback continues to suffer the dovish tone from the FOMC minutes.

    Ahead in the session, the US dollar will remain in the limelight, as Initial Claims and the Philly Fed survey are due later. In addition, market participants will remain vigilant on the speeches by Fed’s Lockhart and Fischer, particularly following yesterday’s statement by the Committee.

    EUR/USD levels to watch

    As of writing the pair is advancing 0.47% at 1.0703 and a break above 1.0779 (accelerated downtrend from 1.1496) would target 1.0829 (high Nov.12) en route to 1.1073 (200-day sma). On the other hand, the next support aligns at 1.0617 (low Nov.18) ahead of 1.0519 (low Apr.13) and finally 1.0456 (2015 low Mar.16).
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