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EUR/USD retreats from (almost) 1.1500

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The upbeat tone remains well and sound around the single currency on Thursday, although EUR/USD is now giving away some gains on its way to 1.1500.

    EUR/USD boosted by USD-selling

    The offered sentiment surrounding the greenback has been growing bigger since the release of the FOMC minutes last week, and it was exacerbated after the recent poor releases in the US docket, where September’s retail sales have missed forecasts.

    While market participants keep pushing back the timing of the Fed’s lift-off, US inflation figures tracked by the CPI are due today along with speeches by Bullard, Dudley and Mester.

    EUR/USD relevant levels

    As of writing the pair is advancing 0.05% at 1.1480 and a breakout of 1.1500 (psychological handle) would target 1.1714 (high post-PBoC move Aug.24) en route to 1.1847 (Fibo 38.2% of 1.3993-1.0456). On the flip side, the immediate support lines up at 1.1315 (Fibo 23.6% of 1.3993-1.04561) ahead of 1.1300 (psychological level) and finally 1.1212 (55-day sma).
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