Euro clings to gains vs. US dollar near 1.0930

December 16, 2015

The European currency is alternating gains with losses vs. the dollar, with EUR/USD currently hovering over the 1.0930/20 area.

EUR/USD lower pre-FOMC

The weakness around EUR persists today despite EMU’s inflation figures have surprised to the upside in their anticipated measure for the current month. Previously, preliminary manufacturing and services PMIs in the euro region have come in mixed, adding some extra selling pressure to the pair.

However, investors remain cautious ahead of the critical FOMC gathering due later in the NA session. Recall that market consensus sees the Fed hiking rates today, with the probability of a 50 bp rate hike currently above 80%.

EUR/USD levels to consider

At the moment the pair is losing 0.01% at 1.0920 and a breakdown of 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 1.1060 (100-day sma) followed by 1.1124 (61.8% Fibo of 1.1496-1.0524) and then 1.1245 (downtrend from 1.1713).

Publication source
HYCM information  HYCM reviews

February 23, 2017
U.S. dollar muted to Fed minutes
The U.S. dollar index was flat yesterday after the Federal Reserve published the meeting minutes from the January 31 -February 1 monetary policy meeting...
February 23, 2017
Will the UK go through a migration shock?
The plan successfully passed through the upper chamber and is now going to the committee stage where it’s likely to be amended to warrant better relations with the EU...
February 23, 2017
The euro is under pressure amid growing concerns
The single currency regained a minor portion of its losses in the Asian session on Wednesday. The pair was able to reach 1.0550. However, the selling pressure around the euro remained unchanged pushing the spot to fresh lows...

FX Giants Rating
Cms Trader Rating
Vantage FX Rating
Orbex Rating
Grand Capital Rating
XM Rating

Binary Brokerz Rating
UKoptions Rating
GTOptions Rating
IQ Option Rating
Dragon Options Rating
Porter Finance Rating