Key Levels in the EUR/USD

The EUR/USD managed to hold up strong this week and has fought off the bears at the 1.1300 mark.

EUR/USD Levels

The EUR/USD managed to hold up strong this week and has fought off the bears at the 1.1300 mark.

The big news event this week is the ECB minutes, but as we have come to expect, there is little by way of major news likely to come out of it.

A far more interesting figure might well be the CPI print we get on Friday which is expected to show 1.4% YoY, which my any measure is still pretty low. The target rate is for 2-3% and the weak inflation must be keeping Mario Draghi up at night.

 

Technical Outlook

The EUR/USD has been following technical support and resistance  at 1.1300 is where we tested and bounced from late last week and into this week.

We have minor levels at 1.1350/1.1400, but it is really the 1.4500 and 1.1500 where all the sellers are.

If price can break and hold below 1.1300, then that opens the door for a move to 1.1260, 1.1220 and ultimately 1.1200.

EUR/USD
EUR/USD – 240min.
ABOUT THE AUTHOR See More
Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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