EUR/USD Challenges Highs Near 1.1380

EUR/USD Challenges Highs Near 1.1380

20 April 2016, 14:16
Roberto Jacobs

EUR/USD Challenges Highs Near 1.1380

The common currency remains on a firm footing on Wednesday, with EUR/USD showing strength near the 1.1380 region, or daily peaks.

EUR/USD attention to US releases

The pair’s upside remains well and sound during the first half of the week against the backdrop of increasing vulnerability in the greenback and mixed risk appetite trends.

Next of relevance for the pair will be US Existing Home Sales during the month of March, followed by the weekly report on crude inventories by the EIA.

EUR/USD levels to watch

The pair is now up 0.14% at 1.1376 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 1.1333 (20-day sma) followed by 1.1313 (23.6% Fibo of 1.0820-1.1455) and finally 1.1232 (low Apr.14).

(Market News Provided by FXstreet)

Share it with friends: