EUR/USD Stuck Around 1.1360, Fedspeak Eyed

EUR/USD Stuck Around 1.1360, Fedspeak Eyed

8 April 2016, 14:14
Roberto Jacobs

EUR/USD Stuck Around 1.1360, Fedspeak Eyed

The common currency keeps the negative tone at the end of the week, with EUR/USD meandering the 1.1360 area.

EUR/USD focus on Fedspeak

The pair has quickly faded the bullish attempt to daily tops around 1.1390 earlier in the session, returning to the current 1.1365/60 band against the backdrop of a risk-on environment.

Ahead in the day, the greenback will take centre stage in light of speeches by NY Fed W.Dudley, Philadelphia Fed P.Harker and Dallas Fed R.Kaplan.

EUR/USD levels to watch

The pair is now losing 0.11% at 1.1366 and a break below 1.1325 (low Apr.6) would target 1.1291 (23.6% Fibo of 1.0820-1.1437) en route to 1.1276 (20-day sma). On the other hand, the next hurdle lines up at 1.1454 (2016 high Apr.7) ahead of 1.1496 (monthly high Oct.15 2015) and then 1.1713 (high Aug.24 2015).

(Market News Provided by FXstreet)

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