EUR/USD supported by hourly 200-MA in Asia

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The EUR/USD found support at its hourly 200-MA in Asia after the bullish momentum ran out of steam in the NY session around 1.0763 levels.

    Eyes ECB speak

    The traders await the speeches from the European Central Bank officials for more clue regarding the possibility of more easing at the December meeting. ECB President Draghi and Bundesbank President Weidmann are scheduled to deliver keynote speeches at the Euro Finance Week ECB Vice-President Constancio and Benoît Cœuré will be speaking at a conference in Frankfurt.

    Meanwhile, the traders would also keep an eye on the movement in the equity markets; given the economic calendar is empty.

    EUR/USD Technical Levels

    At 1.0723, the immediate support is seen at 1.0715 (hourly 200-MA), under which the losses could be extended to 1.0685 (hourly 100-MA). On the other side, resistance is seen at 1.0763 (daily high) and 1.08 levels, followed by 1.0835 (23.6% of 1.1495-1.0631).
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