15 Dec 2015
EUR/USD drops further to 1.0950
FXStreet (Edinburgh) - The shared currency has surrendered its initial gains vs. the dollar, now sending EUR/USD to print daily lows in the mid-1.0900s.
EUR/USD lower on US data
The selling pressure around EUR has been gathering traction following auspicious results from US inflation figures, showing the CPI has risen at an annual pace of 0.5% on a year to November, surpassing estimates.
In the meantime, the pair keeps the erratic trade during the first half of the week, finding quite decent support in the 1.0950 area while gains remain somewhat capped in the mid-1.10s, all ahead of the critical FOMC meeting due tomorrow.
EUR/USD levels to consider
At the moment the pair is losing 0.26% at 1.0956 and break below 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0808 (low Jul.20) and finally 1.0753 (23.6% Fibo of 1.1496-1.0524). On the other hand, the initial hurdle aligns at 1.1061 (100-day sma) followed by 1.1124 (61.8% Fibo of 1.1496-1.0524) and then 1.1266 (76.4% Fibo of 1.1496-1.0524).
EUR/USD lower on US data
The selling pressure around EUR has been gathering traction following auspicious results from US inflation figures, showing the CPI has risen at an annual pace of 0.5% on a year to November, surpassing estimates.
In the meantime, the pair keeps the erratic trade during the first half of the week, finding quite decent support in the 1.0950 area while gains remain somewhat capped in the mid-1.10s, all ahead of the critical FOMC meeting due tomorrow.
EUR/USD levels to consider
At the moment the pair is losing 0.26% at 1.0956 and break below 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0808 (low Jul.20) and finally 1.0753 (23.6% Fibo of 1.1496-1.0524). On the other hand, the initial hurdle aligns at 1.1061 (100-day sma) followed by 1.1124 (61.8% Fibo of 1.1496-1.0524) and then 1.1266 (76.4% Fibo of 1.1496-1.0524).