Friday, October 30, 2015

EUR/USD clinches highs beyond 1.10

FXStreet (Edinburgh) - A wave of selling pressure is hitting the dollar at the end of the Asian session on Friday, sending EUR/USD to session highs above the 1.0 barrier.

EUR/USD focus on CPI

The renewed offered tone around the greenback is allowing spot to stab the psychological handle at 1.1000 early today, extending the rebound after the FOMC-induced drop to the 1.0900 neighbourhood on Wednesday.

On the data front, preliminary October inflation figures in Euroland will grab all the attention, while Personal Income/Spending and Employment Cost Index (ECI) will take centre stage across the pond.

EUR/USD levels to watch

As of writing the pair is advancing 0.14% at 1.0993 and a break above 1.1021 (76.4% Fibo of 1.0808-1.1713) would target 1.1111 (200-day sma) en route to 1.1160 (100-day sma). On the other hand, the initial support lines up at 1.0894 (low post-FOMC Oct.28) followed by 1.0847 (low Aug.5) and finally 1.0808 (low Jul.20).
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