EUR/USD unchanged on EMU data, near 1.1360

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The common currency remained apathetic after today’s releases in the euro area, with EUR/USD meandering around 1.1360.

    EUR/USD muted post-data

    The pair kept the composure around the 1.1360 area after inflation figures in the euro region have matched the preliminary prints, with core consumer prices rising at an annual pace of 0.9%. Further releases saw the trade balance in the region coming in at €11.2 billion during August vs. €20.0 billion expected and down from €31.4 billion.

    In the meantime, spot remains entrenched in the negative territory ahead of US Industrial Production and the anticipated sentiment index gauged by Reuters/Michigan for the current month.

    EUR/USD relevant levels

    As of writing the pair is retreating 0.24% at 1.1356 and a breach of 1.1315 (Fibo 23.6% of 1.3993-1.0456) would open the door to 1.1300 (psychological level) and finally 1.1217 (55-day sma). On the other hand, the next up barrier aligns at 1.1496 (high Oct.15) followed by 1.1714 (high post-PBoC move Aug.24) and then 1.1847 (Fibo 38.2% of 1.3993-1.0456).
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