EUR/USD Advances to Highs Near 1.1440

EUR/USD Advances to Highs Near 1.1440

12 April 2016, 09:45
Roberto Jacobs

EUR/USD Advances to Highs Near 1.1440

The shared currency is now gathering further traction, sending EUR/USD to the area of daily highs in the proximity of 1.1440.

EUR/USD focus on Fedspeak

Spot keeps its buoyant tone during the first half of the week, now extending the daily upside to the area of 1.1440, closer to Monday’s peaks near 1.1450, amidst another bout of USD weakness.

The pair kept the composure after German final CPI figures for the month of March have matched preliminary readings, now leaving all the attention to the upcoming speeches by Fed’s Lacker, Williams and Harker.

EUR/USD levels to watch

The pair is now up 0.11% at 1.1421 and a break above 1.1454 (2016 high Apr.7) would target 1.1496 (monthly high Oct.15 2015) en route to 1.1713 (high Aug.24 2015). On the other hand, the next support lines up at 1.1325 (low Apr.6) ahead of 1.1305 (23.6% Fibo of 1.0820-1.1455) and finally 1.1160 (55-day sma).

(Market News Provided by FXstreet)

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