EUR/USD within range post-data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The single currency kept the composure after today’s EMU’s releases, with EUR/USD navigating the low-1.0600s for the time being.

    EUR/USD sidelined on US inactivity

    The pair paid little to none attention to the credit figures results in the euro area during the last month. In fact, Private Loans have increased 1.2% on a year to October while M3 Money Supply has expanded 5.3% on a yearly basis, surpassing both estimates and the previous print. Next of relevance will be the German Consumer Confidence tracked by the Gfk survey, expected at 9.2.

    The pair remains vulnerable in light of the upcoming ECB meeting, while rumours keep building up around further easing measures likely to be announced at the meeting.

    EUR/USD levels to watch

    As of writing the pair is losing 0.06% at 1.0609 with the next support at 1.0519 (low Apr.13) en route to 1.0456 (2015 low Mar.16). On the upside, a breakout of 1.0829 (high Nov.12) would aim for 1.1054 (200-day sma) and finally 1.1078 (100-day sma).
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