EUR/USD volatile around 1.1270, Fedspeak eyed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The single currency has faded the post-CPI spike to the boundaries of the 1.1300 handle, taking EUR/USD to the area of 1.1280/75.

    EUR/USD bid after poor US CPI

    Spot has reverted part of the initial bearish mood while it looks to snap a 2-day negative streak, trading in the 1.1280 area following a failed attempt to retake 1.1300 the figure.

    The greenback has given away part of its initial gains after key US inflation figures failed to meet expectations during the month of March. USD will take centre stage later in light of the speeches by Atlanta Fed D.Lockhart and FOMC member J.Powell.

    EUR/USD levels to watch

    The pair is now down 0.06% at 1.1268 and a break below 1.1219 (38.2% Fibo of 1.0820-1.1455) would open the door to 1.1163 (55-day sma) and finally 1.1142 (low Mar.24). On the flip side, the initial hurdle lines up at 1.1313 (23.6% Fibo of 1.0820-1.1455) followed by 1.1454 (2016 high Apr.7) and then 1.1496 (monthly high Oct.15 2015).
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