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22 Dec 2015
EUR/USD ignores German data, nears 1.09 handle
FXStreet (Mumbai) - The better-than-expected German data had no impact on the EUR/USD pair, which is slowly heading towards 1.09 levels.
Focus on stocks ahead of US data
The pair is at the mercy of the sentiment in the major European equities. At the time of writing, the major European equity futures were pointing to a positive opening, which means the EUR may have a trouble sustaining above 1.09 ahead of the US data.
Later in the day, the third quarter US GDP could turn out to be a non-event unless the figure is revised significantly higher/lower.
EUR/USD Technical Levels
At 1.0903, the immediate resistance is seen at 1.0922 (hourly 200-MA), above which the pair could test 1.1006 (50% of 1.1495-1.0517). On the other hand, a break below 1.0894 (50-DMA)-1.0890 (38.2% of 1.1495-1.0517) could open doors for a drop to 1.0803 (Dec 17 low).
Focus on stocks ahead of US data
The pair is at the mercy of the sentiment in the major European equities. At the time of writing, the major European equity futures were pointing to a positive opening, which means the EUR may have a trouble sustaining above 1.09 ahead of the US data.
Later in the day, the third quarter US GDP could turn out to be a non-event unless the figure is revised significantly higher/lower.
EUR/USD Technical Levels
At 1.0903, the immediate resistance is seen at 1.0922 (hourly 200-MA), above which the pair could test 1.1006 (50% of 1.1495-1.0517). On the other hand, a break below 1.0894 (50-DMA)-1.0890 (38.2% of 1.1495-1.0517) could open doors for a drop to 1.0803 (Dec 17 low).