EUR/USD retakes 1.0900 and beyond

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - EUR/USD has now reverted the negative mood that has been prevailing since early trade, rebounding from the 1.0860 area to session tops around 1.0910.

    EUR/USD stronger on EUR/GBP

    The increasing weakness around the British pound and the consequent climb in EUR/GBP is boosting the pair to levels above the 1.0900 handle, showing some signs of life in an otherwise apathetic session.

    Previously, spot paid little attention to better-than-expected ZEW Survey results in Germany and slightly higher consumer prices in the euro bloc during December, with market participants showing a cautious trade in light of the upcoming ECB meeting.

    EUR/USD levels to watch

    The pair is up 0.01% at 1.0902 with the next resistance at 1.0987 (high Jan.15) followed by 1.0997 (100-day sma) ahead of 1.1059 (high Dec.15). On the other hand, a breakdown of 1.0798 (61.8% Fibo of 1.0538-1.1059) would aim for 1.0709 (low Jan.5) and then 1.0538 (low Dec.3).
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