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EUR/USD slips to lows near 1.1190

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The shared currency keeps losing altitude during the European morning, dragging EUR/USD to daily lows near 1.1190.

    EUR/USD focus on Draghi

    The pair’s offered tone keeps gathering traction at the beginning of the week, propped up by the prevailing risk appetite trends and a solid start of equity markets in the Old Continent.

    Ahead in the session, EMU’s trade balance figures for the month of December are due later, although all the attention will be on President Draghi’s Introductory statement at the European Parliament due later in the European afternoon.

    EUR/USD levels to watch

    The pair is now retreating 0.53% at 1.1195 and a breach of 1.1084 (low Feb.8) would target 1.1062 (20-day sma) and finally 1.1025 (200-day sma). On the flip side, the next up barrier lines up at 1.1378 (high Feb.11) ahead of 1.1460 (monthly high Sep.18) and then 1.1496 (monthly high Oct.15).
    For more information, read our latest forex news.
     

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