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EUR/USD remains firm above 1.1300

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The shared currency is trading on a firmer footing vs. the dollar on Thursday, with EUR/USD trading well beyond the 1.1300 handle.

    EUR/USD stronger on risk aversion

    The pair has surrendered the earlier spike to the 1.1360 area against the backdrop of persistent risk-off sentiment, fuelled at the same time by the negative performance of European equity markets.

    Ahead in the session there are no scheduled releases in Euroland while Initial Claims and another testimony by Chairwoman J.Yellen will grab all the attention across the pond later.

    EUR/USD levels to watch

    The pair is now advancing 0.24% at 1.1321 with the next hurdle at 1.1460 (monthly high Sep.18) ahead of 1.1496 (monthly high Oct.15) and finally 1.1713 (post-PBoC high Aug.24). On the other hand, a breakdown of 1.1055 (200-day sma) would open the door to 1.1002 (20-day sma) and finally 1.0963 (100-day sma).
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