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EUR/USD stronger, 1.14 on sight?

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The European currency is now picking up further pace vs. the greenback, sending EUR/USD to surpass yesterday’s tops near 1.1380.

    EUR/USD supported around 1.1320

    After bottoming out in the 1.1325/20 band earlier in the session, the pair has managed to gather traction and advance to the 1.1390 area, or 2-day tops, all against the backdrop of increasing USD-selling.

    Next on tap will be Housing Starts and Building Permits across the pond, along with speeches by Fed members Dudley, Powell and Yellen.

    EUR/USD relevant levels

    As of writing the pair is advancing 0.46% at 1.1379 with the next hurdle at 1.1466 (downtrend from May’14 top) followed by 1.1500 (psychological handle) and then 1.1714 (high post-PBoC move Aug.24). On the downside, a breach of 1.1300 (psychological level) would target 1.1240 (55-day sma) en route to 1.1229 (2-month uptrend).
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