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EUR/USD remains around hourly 50-MA after EZ GDP data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The EUR/USD pair turned a blind eye towards the Eurozone GDP figure and continues to hover around the hourly 50-MA located at 1.0759 levels.

    Stuck between key MAs

    At the time of writing, the pair was stuck in the range of hourly 100-MA and hourly 50-MA located at 1.0750 and 1.0759 respectively. The data released in the Eurozone showed the GDP grew 0.35 in the third quarter missing estimates underscoring the weak recovery as ECB considers more stimulus in December.

    The pair hardly moved after the data as the investors remain focused on the US advance retail sales data due for release later today.

    EUR/USD Technical Levels

    A failure to sustain above 1.0750 (hourly 100-MA) would open doors for a sell-off to 1.07 levels. A break below would expose 1.06 handle. On the higher side, a resistance is seen at 1.0784 (hourly 10-MA), above which the prices could re-test the hourly 200-MA at 1.0817.
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