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EUR/USD subdued around 1.1200, Draghi eyed

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The common currency keeps the negative note at the beginning of the week, with EUR/USD gyrating around the 1.1200 handle.

    EUR/USD attention to Draghi

    The solid recovery of the greenback plus a continuation of the positive performance of European equity markets keep the demand for the single currency subdued for the time being, with spot navigating the 1.1180/1.1200 band ahead of the speech by President Draghi before the European Parliament.

    Previously EMU’s trade balance figures for the month of December shrink to a seasonally adjusted €21 billion, down from €22.7 billion.

    EUR/USD levels to watch

    The pair is now retreating 0.42% at 1.1206 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).
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