EUR/USD: Rejected at hourly 100-MA, German yields drop

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The EUR/USD pair failed to sustain above the hourly 100-MA at 1.0666 levels, while the German Bund yields fell into losses.

    Eyes hourly 50-MA

    The pair now eyeing the hourly 50-MA located at 1.0637. The losses in the European stock markets had pushed the shared currency to a high of 1.0670 before the losses in the yields, which represent the expectations of more ECB easing, weighed over the common currency.

    The attention now shifts to the second estimate of the US Q3 GDP due later today, which will be followed by regional manufacturing index, goods trade balance and consumer confidence.

    EUR/USD Technical Levels

    At 1.0645, the immediate support is located at 1.0637 (hourly 50-MA), under which the losses could be extended to 1.0592 (Nov 23 low). On the other side, resistance is seen at 1.0666 (hourly 100-MA) and 1.0689 (hourly 200-MA).
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