EUR/USD Stuck Within Daily Range
The European currency is extending its sideline pattern against the dollar today, with EUR/USD trading unmotivated around 1.1330.
EUR/USD well supported near 1.1300
Spot
has faded the earlier spike towards the proximity of 1.1350, giving
away some pips and now meandering around the 1.1330 region against the
backdrop of persistent USD-selling.
Previously, German/EMU ZEW
Survey showed Economic Sentiment surpassing expectations for the current
month, although the pair remained apathetic on the results. Across the
pond, Housing Starts and Building Permits are only due.
EUR/USD levels to watch
The
pair is now up 0.17% at 1.1332 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).
