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EUR/USD slips to lows near 1.0860

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The common currency has now faded the spike to the vicinity of 1.09 the figure vs. the greenback, with EUR/USD returning to the 1.0860 area ahead of the opening bell in London.

    EUR/USD looks to ECB, risk

    The pair is now accelerating its daily decline, as the risk appetite seems to be returning to the markets and the greenback remains on a firm footing above the 99.00 handle when measured by the USD Index.

    Data wise in Euroland, the ECB Meeting Accounts are only due later ahead of the Eurogroup meeting, whereas the usual weekly report on the US labour market, Import/Export Prices and the speech by Fed’s Bullard are in the limelight across the pond.

    EUR/USD levels to watch

    The pair is losing 0.19% at 1.0862 and a breakdown of 1.0798 (61.8% Fibo of 1.0538-1.1059) would aim for 1.0709 (low Jan.5) and then 1.0538 (low Dec.3). On the flip side, the next up barrier lines up at 1.0936 (76.4% Fibo of 1.0538-1.1059) followed by 1.1010 (100-day sma) ahead of 1.1059 (high Dec.15).
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