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EUR/USD retreats from highs, back near 1.1310

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The common currency manages to keep the trade above the 1.1300 handle vs. the dollar today, with EUR/USD now hovering over the 1.1310/15 band.

    EUR/USD firmer ahead of German data, ADP

    The pair’s upside seems to have run out of steam in the area of session highs around 1.1330 today, although the risk-on sentiment remains unchanged amidst persistent weakness around the dollar.

    Spot will remain in the limelight later in the day, with advanced German inflation figures during March due followed by US ADP report, expected at 194K. Previously, EMU’s Economic Sentiment has come in short of expectations, while Consumer Confidence dropped to -10.0.

    EUR/USD levels to watch

    The pair is now up 0.20% at 1.1317 facing the next resistance at 1.1344 (high Mar.17) ahead of 1.1378 (2016 high Feb.11) and then 1.1496 (monthly high Oct.15 2015). On the downside, a break below 1.1220 (23.6% Fibo of 1.0820-1.1344) would target 1.1156 (20-day sma) en route to 1.1041 (200-day sma).

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