EUR/USD Surrenders Gains, Back to 1.1280
EUR/USD
has abandoned the area of daily highs above the 1.1300 handle, slipping
back towards the 1.1285/80 band ahead of the opening bell in Euroland.
EUR/USD focus on risk trends
The
pair could not sustain the earlier advance beyond the 1.1300 mark at
the beginning of the week in response to the fiasco at the meeting in
Doha, giving away initial gains and returning to the comfort zone around
1.1280.
Risk appetite trends will remain the exclusive driver
today in the global markets while traders continue to digest the ‘no
deal’ between OPEC and non-OPEC countries yesterday and amidst a vacuum
of data in the euro area.
EUR/USD levels to watch
The
pair is now up 0.01% at 1.1285 and a break above 1.1313 (20-day sma)
would aim for 1.1454 (2016 high Apr.7) and then 1.1496 (monthly high
Oct.15 2015). On the flip side, the initial support aligns at 1.1219
(38.2% Fibo of 1.0820-1.1455) followed by 1.1186 (55-day sma) and
finally 1.1142 (low Mar.24).
