EUR/USD tests lows sub-1.0900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The dollar received another boost and briefly dragged EUR/USD below the 1.09 mark after the most recent bounce attempt was capped by the 1.0940 zone.

    EUR/USD bottomed out at 1.0898 but quickly regain the psychological level amid low volumes of trading during the holidays season, which exaggerates intraday volatility. At time of writing, the pair is trading at 1.0915, still down 0.45% on the day.

    The US dollar strengthened versus its European rivals during the American session, looking past a series of mixed US data. With Fed rate hike left behind, focus now turns to the path of future increases, with economic data still playing a fundamental role.

    EUR/USD levels to watch

    In terms of technical levels, next supports are seen at 1.0898 (intraday low), 1.0860 (50-day SMA), 1.0795 (Dec 7 low) and 1.0700 (psychological level). On the flip side, next resistances could be found at 1.0990/93 (Dec 28 & 29 highs), 1.1010 (Dec 10 high), 1.1055 (100-day SMA/50-week SMA) and 1.1095 (Oct 28 high).
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