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EUR/USD remains limited below 1.1000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - Euro made an attempt to recover ground against the dollar during the European session, but the upside was capped once again by the 1.0990 area.

    EUR/USD bounced from daily lows at the 1.0945 zone, but failed to break above the 1.0990 level and was confined to a phase of consolidation as investors refrain from taking big positions ahead of the Federal Reserve decision on Wednesday.

    Meanwhile, ECB President Mario Draghi defended the bond-buying program Monday and reiterated the bank is ready to use all tools in order to achieve price stability. On Wednesday, Eurozone CPI figures for November will be published.

    EUR/USD technical levels

    In terms of technical levels, next resistances are seen at 1.1030 (200-day SMA), 1.1060 (100-day SMA) and 1.1100 (psychological level). On the flip side, immediate supports could be found at 1.0944 (50-day SMA/Dec 14 low), 1.0925 (Dec 11 & 10 lows) and 1.0878 (Dec 9 low).

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