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EUR/USD treading water above 1.0900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The shared currency keeps the upbeat tone vs. the greenback on Tuesday, with EUR/USD navigating the upper end of the range in the 1.0915/20 band.

    EUR/USD bounces off 1.0800

    The pair keeps consolidating between 1.0700 and 1.1000 at the beginning of the year, currently extending the rebound from Friday’s support in the 1.0800 neighbourhood.

    Recent disappointing releases in the US calendar have added to the buying mood around EUR, while today’s vacuum of releases in the euro area and the US will leave all the attention to the risk appetite trends and the performance of crude oil prices.

    EUR/USD levels to watch

    The pair is now advancing 0.18% at 1.0913 facing the next resistance at 1.0969 (high Jan.28) followed by 1.1000 (psychological level) and then 1.1053 (200-day sma). On the other hand, a break below 1.0777 (post-ECB low Jan.21) would open the door to 1.0737 (38.2% Fibo of 1.0538-1.1059) and finally 1.0709 (low Jan.5).
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