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EUR/USD wobbles around 1.0920

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - After bottoming out in the 1.0900 neighbourhood during the Asian session, EUR/USD is now hovering over the 1.0920/30 band.

    EUR/USD consolidates above 1.0900

    Spot remains sidelined in the low-1.0900s while market participants continue to digest Friday’s solid numbers from the US labour market (292K) and the risk-off trade is attempting a return to the markets following another sharp drop of the Chinese equities.

    With the opening bell in Euroland upon us, today’s calendar in the region is far from appealing, as January’s Sentix index is only due (12.2 exp.). Across the pond, the Fed’s Labor Market Conditions Index (LMCI) will be in the limelight.

    EUR/USD levels to watch

    The pair is retreating 0.02% at 1.0917 with the immediate support at 1.0860 (61.8% Fibo of 1.0538-1.1059) ahead of 1.0834 (55-day sma) and then 1.0538 (low Dec.3). On the other hand, a break above 1.1020 (100-day sma) would target 1.1059 (high Dec.15) en route to 1.1134 (5-month downtrend).
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