EUR/USD turns positive around 1.1340

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 31, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The single currency has recovered the earlier drop towards the 1.1300 handle vs. the greenback, with EUR/USD now regaining the boundaries of 1.1340.

    EUR/USD focus on EMU’s CPI

    Spot manages to keep the trade above the key 1.1300 handle during the second part of the week, coming down from recent tops in the 1.1360/65 band and amidst a softer tone in equities following the opening bell in Euroland.

    EUR will take centre stage during the European morning in light of the release of inflation figures in the region, with Core CPI expected to have ticked higher to 0.9% during the current month.

    Across the pond, Challenger Job Cuts, Initial Claims, Chicago PMI and speeches by Evans and Dudley promise to keep investors entertained during the NA session.

    EUR/USD levels to watch

    The pair is now up 0.02% at 1.1340 facing the next resistance at 1.1364 (high Mar.30) ahead of 1.1378 (2016 high Feb.11) and then 1.1496 (monthly high Oct.15 2015). On the downside, a break below 1.1220 (23.6% Fibo of 1.0820-1.1344) would target 1.1176 (20-day sma) en route to 1.1041 (200-day sma).

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