EUR/USD regains 1.1030 ahead of US data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    After a brief test to the boundaries of the 1.10 handle, EUR/USD has now returned to the 1.1030 area ahead of the US docket.

    EUR/USD attention to US releases

    The pair has managed to bounce off the vicinity of 1.1000 the figure in early trade, looking to regain the upper band of the daily range ahead of US Initial Claims and Durable Goods Orders.

    Data wise in the euro region, final headline CPI figures during January has come in at 0.3% YoY, lower than the 0.4% previously estimated, while Private Loans have expanded less than expected 1.4% on a year to January.

    EUR/USD levels to watch

    The pair is now up 0.17% at 1.1026 with the next hurdle at 1.1048 (200-day sma) followed by 1.1112 (20-day sma) and finally 1.1220 (23.6% Fibo of December up-move). On the other hand, a break below 1.0974 (55-day sma) would expose 1.0955 (low Feb.24) and finally 1.0867 (76.4% Fibo of December up-move).
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