EUR/USD shoots to 1.1030, session tops

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The shared currency keeps the buoyancy intact on Monday, now lifting EUR/USD to daily highs in the proximity of 1.1030.

    EUR/USD stronger as USD deflates

    The greenback has quickly deflated to session lows and is currently allowing a modest rebound in the pair to daily peaks in the 1.1025/30 band. Spot has managed to revert the bearish tone that prevailed throughout the session against the backdrop of empty releases in both Euroland and the US.

    Next on tap will be the German/EMU ZEW Survey due tomorrow, ahead of the key inflation figures in the US economy gauged by the CPI.

    EUR/USD levels to consider

    At the moment the pair is up 0.34% at 1.1027 with the next resistance at 1.1041 (high Dec.9) followed by 1.1060 (100-day sma) and then 1.1124 (61.8% Fibo of 1.1496-1.0524). On the other hand, a breakdown of 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0524 (low Dec.3) and finally 1.0519 (low Apr.13).

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