EUR/USD surrenders gains near 1.0680

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The common currency is giving away part of the recent advance beyond 1.07 the figure vs. the dollar, taking EUR/USD back to the vicinity of 1.0680.

    EUR/USD unchanged on US data

    The pair paid little attention to today’s releases in the US docket, where Initial Claims have matches forecasts at 271K during the week ended on November 13th and the Philly Fed manufacturing survey has come in on the stronger side, up to 1.9 for the month of November vs. -1.0 expected and -4.5 previous.

    Ahead in the session, market participants will remain vigilant on the speeches by Fed’s Lockhart and Fischer, particularly after yesterday’s dovish FOMC minutes.

    EUR/USD levels to watch

    As of writing the pair is advancing 0.27% at 1.0681 and a break above 1.0779 (accelerated downtrend from 1.1496) would target 1.0829 (high Nov.12) en route to 1.1073 (200-day sma). On the other hand, the next support aligns at 1.0617 (low Nov.18) ahead of 1.0519 (low Apr.13) and finally 1.0456 (2015 low Mar.16).
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