EUR/USD trims losses, near 1.1150

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The single currency is posting marginal losses vs. the greenback on Monday, with EUR/USD currently testing the 1.1140/35 band.

    EUR/USD deflates from 1.1250

    The pair’s upside seem to have run out of legs in the area of recent multi-week peaks near 1.1250. A better sentiment around the greenback following auspicious details from last Friday’s Payrolls numbers have collaborated with the correction lower, although sellers could not break below the 1.1100 key support.

    Ahead in the session, Investor Confidence tracked by the Sentix index is only due in Euroland, while the Fed’s Labor Market Conditions Index will be in the limelight across the pond.

    EUR/USD levels to watch

    The pair is now retreating 0.14% at 1.1137 and a breach of 1.1054 (200-day sma) would open the door to 1.0959 (100-day sma) and finally 1.0949 (20-day sma). On the flip side, the next up barrier lines up at 1.1240 (high Feb.4) ahead of 1.1496 (high Oct.15) and finally 1.1713 (post-PBoC high Aug.24).
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