FXStreet – The better sentiment towards the Greenback leads to the beginning of the week, the EUR/USD from a 6-week high on 1,1200 pulls back and the days low to 1,1160 is formed.
EUR/USD focus Talk on the Eurogroup, Fed
After the short break over 1,1200 the trade took place at the highest level since the beginning of October. The upward momentum was lost and so the day was deep in the area of the 1,1170/60 is formed.
After the profit-taking is only logical, while the rising purchasing favored interest against the Greenback the downward correction. The US Dollar Index (DXY) pushed in the area of the new 6-month low below 97,00 on a support and is currently trading at the days high in the vicinity of 97.30.
From the Eurozone today, there is no material data and so the focus is on the Euro group meeting on Greece, and Brexit the Top topics will be.
From the USA there are also no data, but Speeches by FOMC member L. Brainard (permanent voters, centrist), Philly Fed P. Harker (voter, hawkish) and Minneapolis Fed of N. Kashkari (voter, dovish).
EUR/USD significant levels
Currently, the daily loss is -0.29% for 1,1176 and the next supports is at 1,1073 (76,4 % Fibo of the 1,1300-1,0339), 1,0973 (20-day SMA) and 1,0826 (200-day SMA). Resistors are on the other hand, in the case of 1,2114 (2017 High 19. May) and 1.1300 (High-9. November 2016).
** FXStreet News Editorial, FXStreet**