EUR/USD stabs session highs near 1.1140

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The shared currency keeps the firm note vs. the greenback at the end of the week, with EUR/USD now coming back to 1.1115/10 after testing highs near 1.1140.

    EUR/USD focus on risk trends, EU Summit

    The second day of the EU Summit is about to kick in in Brussels, with just a little progress been made and still a lot to be done. According to sources, the EU-UK talks could extend further into the weekend, keeping the pound under pressure and prompting EUR/GBP to become a significant driver for the pair’s price action.

    Back from Belgium, EMU’s flash Consumer Confidence for the month of February will be the only release in the region, while US inflation figures gauged by the CPI will take centre stage later in the NA session.

    EUR/USD levels to watch

    The pair is now advancing 0.12% at 1.11112 facing the next hurdle at 1.1220 (23.6% Fibo of December up-move) followed by 1.1378 (high Feb.11) and then 1.1496 (monthly high Oct.20 2015). On the flip side, a breakdown of 1.1051 (200-day sma) would target 1.0965 (61.8% Fibo of December up-move) and finally 1.0709 (YTD low Jan.5).
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