EUR/USD rises above 1.1400 and nears 2016 highs

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD has climbed to fresh daily highs as the dollar faces another round of selling at the beginning of the New York session, in the absence of fundamental catalysts behind the move.

    EUR/USD rose to retest last week highs at the 1.1445/50 zone, but stalled a few pips shy of its year-to-date peak of 1.1453. Having printed a high of 1.1447, the pair is currently trading at 1.1438, up 0.32% on the day.

    There is no first-tier data scheduled for the session but the the Federal Reserve closed meeting on discount rates might gather some attention.

    EUR/USD levels to watch

    In terms of technical levels, EUR/USD could find immediate resistances at 1.1453 (2016 high, Apr 7), 1.1494 (Oct 15 high) and 1.1560 (Aug 26 high). On the other hand, supports are seen at 1.1326 (Apr 6 low), 1.1309 (Mar 31 low) and 1.1293 (20-day SMA).
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