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23 Mar 2016

EUR/USD looks to regain 1.1200 ahead of US data

The shared currency has bounced off the 1.1180 area vs. the greenback today, pushing EUR/USD back to the 1.1200 neighbourhood.

EUR/USD lower on USD strength

The pair saw its downside momentum accelerated after hitting overnight peaks in the 1.1220 area, albeit bears could not push further south of 1.1180 for the time being.

In the meantime, the generalized bid tone around the greenback remains unabated so far, prompting spot to keep fading the stab towards the 1.1340 area seen after the FOMC meeting.

Data wise in the US docket, New Home Sales are due ahead of the EIA weekly report on crude oil inventories.

EUR/USD levels to watch

The pair is now retreating 0.18% at 1.1197 facing the next support at 1.1123 (38.2% Fibo of 1.0709-1.1378) ahead of 1.1078 (20-day sma) and finally 1.1042 (200-day sma). On the flip side, a break above 1.1344 (high Mar.17) would target 1.1378 (2016 high Feb.11) en route to 1.1496 (monthly high Oct.15 2015).
Mar 23, 2016

AUD/USD seen retreating towards 0.71 in 6-month – Danske Bank

Kristoffer Lomholt, Analyst at Danske Bank, sees the Aussie dollar deprecaiting towards the 0.7100 handle in the medium term...
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Mar 23, 2016

United States MBA Mortgage Applications remains unchanged at -3.3% in March 18

United States MBA Mortgage Applications remains unchanged at -3.3% in March 18
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