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EUR/USD sinks to lows near 1.1270

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The shared currency is now losing altitude vs. the dollar, with EUR/USD now posting fresh daily lows near 1.1270.

    EUR/USD lower post-European open

    A positive open of the European equity markets today has added further selling pressure to the shared currency, forcing spot to give away further ground and to print new daily lows in the 1.1270/60 band.

    While risk aversion continues to ebb, market participants will shift their focus on EMU’s flash GDP figures during the fourth quarter (0.3% QoQ exp.) and Retail Sales (0.1% exp.) across the pond due later in the NA session.

    EUR/USD levels to watch

    The pair is now retreating 0.39% at 1.1281 and a breach of 1.1055 (200-day sma) would open the door to 1.1021 (20-day sma) and finally 1.0964 (100-day sma). On the flip side, the next up barrier lines up at 1.1460 (monthly high Sep.18) ahead of 1.1496 (monthly high Oct.15) and finally 1.1713 (post-PBoC high Aug.24).
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