- Attempts a tepid recovery above 5-DMA amid dollar comeback.
- Awaits Eurozone industrial production data and US CPI for fresh trading impetus.
Fresh bids emerged near the daily pivot at 1.1310, allowing a tepid bounce in the EUR/USD pair in an effort to regain the 5-DMA barrier at 1.1321. At the press time, the pair trades at 1.1332, up +0.10% on the day.
Despite the latest leg up in the spot, the bulls remain wary amid a broad-based US dollar comeback, as markets remain focussed on the outcome of the US-China trade talks, starting tomorrow.
More so, the US dollar index rose from 96.64 lows to print the daily highs at 96.84, as markets expect the US headline CPI figure to accelerate to 0.1% m/m in January vs. 0.0% last while the core figures are likely to steady at 0.2% inter-month.
On the EUR-side of the story, the recent downbeat Eurozone fundamentals continue to undermine the sentiment around the common currency that could keep any recovery short-lived.
Meanwhile, the negative tone seen around the 10-year German bond yields could also cap the upside attempts, as the immediate focus now shifts towards the Eurozone industrial production data due at 1000 GMT, which could aid the recovery mode in the major.
EUR/USD levels to watch
Overview:
Today Last Price: 1.1330
Today Daily change: 4 pips
Today Daily change %: -0.04%
Today Daily Open: 1.1332
Trends:
Daily SMA20: 1.1386
Daily SMA50: 1.1398
Daily SMA100: 1.1416
Daily SMA200: 1.1538
Levels:
Previous Daily High: 1.1342
Previous Daily Low: 1.1258
Previous Weekly High: 1.1462
Previous Weekly Low: 1.132
Previous Monthly High: 1.1586
Previous Monthly Low: 1.1289
Daily Fibonacci 38.2%: 1.1309
Daily Fibonacci 61.8%: 1.129
Daily Pivot Point S1: 1.1279
Daily Pivot Point S2: 1.1226
Daily Pivot Point S3: 1.1195
Daily Pivot Point R1: 1.1363
Daily Pivot Point R2: 1.1394
Daily Pivot Point R3: 1.1447
Share
