EUR/USD Edging Higher Towards 1.1380
EUR/USD continues to benefit from the offered tone surrounding the dollar, now aiming to test 1.1380.
EUR/USD finds support at 1.1300
The
pair has managed to revert the initial negative tone, finding support
in the 1.1300 neighbourhood and climbing towards current levels backed
by an acceleration of the selling interest around the greenback and
amidst a strong rebound in the risk appetite.
Positive Economic
Sentiment in Germany and the euro area is also collaborating with the
upside, along with poor results from US Housing Starts and Building
Permits.
EUR/USD levels to watch
The pair
is now up 0.58% at 1.1379 and a break above 1.1454 (2016 high Apr.7)
would open the door to 1.1496 (monthly high Oct.15 2015) and then 1.1713
(high Aug.24 2015). On the flip side, the immediate support aligns at
1.1219 (38.2% Fibo of 1.0820-1.1455) followed by 1.1190 (55-day sma) and
finally 1.1142 (low Mar.24).
