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EUR/USD turns positive near 1.1200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    A bout of selling pressure around the greenback is allowing EUR/USD to regain the positive territory and the 1.1200 handle.

    EUR/USD advances as USD retreats

    Spot has managed to bounce off session lows near 1.1170 and regain the 1.1200 key barrier following a renewed selling sentiment surrounding the greenback, in response to comments by Fed’s Williams.

    Williams has emphasized the gradual path for upcoming rate hikes and sees the US economy could hit its inflation target sooner than anticipated.

    Next of relevance for the pair will be the speeches by Yellen and Kaplan, while the S&P/Case-Shiller index and CB’s Consumer Confidence are also due.

    EUR/USD levels to watch

    The pair is now gaining 0.05% at 1.1203 facing the next hurdle at .1344 (high Mar.17) ahead of 1.1378 (2016 high Feb.11) and then 1.1496 (monthly high Oct.15 2015). On the other hand, a breakdown of 1.1143 (20-day sma) would target 1.1082 (50% Fibo of 1.0820-1.1344) en route to 1.1039 (200-day sma).

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