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EUR/USD wobbles around 1.10 ahead of Sentix, Fedspeak

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The shared currency is posting marginal losses vs. the greenback on Monday, taking EUR/USD to meander just below the 1.10 handle.

    EUR/USD attention to data, Fed

    Lack of volatility and almost no NFP-follow through during the Asian session at the beginning of the week has prompted the pair to consolidate around the critical 1.10 barrier ahead of the opening bell in Euroland.

    In the meantime, EMU’s Investor Confidence gauged by the Sentix index is due later, followed by the US Labor Market Conditions Index (LMCI) and speeches by FOMC’s Brainard and Fed’s Fischer.

    EUR/USD levels to watch

    The pair is now losing 0.09% at 1.0991 and a break below 1.0975 (55-day sma) would expose 1.0916 (100-day sma) and finally 1.0823 (low Mar.2). On the other hand, the next up barrier aligns at 1.1046 (200-day sma) ahead of 1.1056 (20-day sma) and then 1.1071 (high Feb.26).
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