EUR/USD turns positive near 1.0670

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - A bout of selling pressure has hit the greenback and pushed EUR/USD to quickly test session tops in the 1.0670 area.

    EUR/USD focus on FOMC

    The pair has managed to revert the drop to overnight troughs around 1.0630 following the opening bell in Euroland today amidst an increasing offered tone around the US dollar.

    In the meantime, spot has regained the positive territory near 1.0670, although it remains under pressure in light of the FOMC minutes to be released later in the NA session.

    EUR/USD levels to watch

    As of writing the pair is advancing 0.18% at 1.0666 and a break above 1.0808 (downtrend from 1.1496) would target 1.0829 (high Nov.12) en route to 1.1076 (200-day sma). On the other hand, the next support aligns at 1.0600 (psychological level) ahead of 1.0519 (low Apr.13) and finally 1.0456 (2015 low Mar.16).
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