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22 Dec 2015
EUR/USD stuck at hourly 200-MA, eyes German data
FXStreet (Mumbai) - The EUR/USD pair is struggling to take out the hourly 200-MA at 1.0922 levels since the NY
session.
Eyes German data and US GDP
The immediate focus is on the German data – Import price index and GFK consumer confidence. The consumer confidence for Jan is seen unchanged at 9.3, while the import prices are seen dropping 0.2% m/m and 3.8%y/y.
Ahead in the day, the third quarter US GDP could influence the broad based demand for the US dollars. In the meantime, the action in the European stocks could also influence the pair.
EUR/USD Technical Levels
At 1.0912, the immediate resistance is seen at 1.0922 (hourly 200-MA), above which the pair could test 1.1006 (50% of 1.1495-1.0517). On the other hand, a break below 1.0894 (50-DMA)-1.0890 (38.2% of 1.1495-1.0517) could open doors for a drop to 1.0803 (Dec 17 low).
session.
Eyes German data and US GDP
The immediate focus is on the German data – Import price index and GFK consumer confidence. The consumer confidence for Jan is seen unchanged at 9.3, while the import prices are seen dropping 0.2% m/m and 3.8%y/y.
Ahead in the day, the third quarter US GDP could influence the broad based demand for the US dollars. In the meantime, the action in the European stocks could also influence the pair.
EUR/USD Technical Levels
At 1.0912, the immediate resistance is seen at 1.0922 (hourly 200-MA), above which the pair could test 1.1006 (50% of 1.1495-1.0517). On the other hand, a break below 1.0894 (50-DMA)-1.0890 (38.2% of 1.1495-1.0517) could open doors for a drop to 1.0803 (Dec 17 low).