EUR/USD Firmer, 1.13 on Sight?

EUR/USD Firmer, 1.13 on Sight?

15 April 2016, 14:50
Roberto Jacobs

EUR/USD Firmer, 1.13 on Sight?

The common currency is now picking up pace vs. the greenback, lifting EUR/USD to print daily highs near 1.1290.

EUR/USD higher as risk-on dissipates

The risk appetite trends seem to be losing momentum after a positive start today, now helping the pair to revert the earlier drop to session lows near 1.1240 and to open the door for a potential test of 1.1300 the figure.

Next on tap will be the US calendar, where Industrial Production, Capacity Utilization and the Reuters/Michigan index will take centre stage. Over the weekend, all the looks will be on the OPEC-non OPEC meeting in Doha, due on Sunday.

EUR/USD levels to watch

The pair is now up 0.19% at 1.1286 facing the initial test at 1.1313 (23.6% Fibo of 1.0820-1.1455) followed by 1.1454 (2016 high Apr.7) and then 1.1496 (monthly high Oct.15 2015). On the other hand, a break below 1.1219 (38.2% Fibo of 1.0820-1.1455) would open the door to 1.1171 (55-day sma) and finally 1.1142 (low Mar.24).

(Market News Provided by FXstreet)

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