EUR/USD holding above 1.1400, set for a break higher for Monday
- Risk appetite opens on the upside as the Greenback steps lower.
- Despite last week's data beat for the US, Powell's talking continues to erode the USD.
EUR/USD is ticking around on the north end of 1.1400 through Monday's early trading session as risk appetite finds a bid to kick off the new trading week, which will see a large portion of volumes returning to the fold following the holiday slowdown, and market sentiment is testing higher as investors hope for a successful turnout from Trump-Xi meetings on the 7th and 8th this week.
Despite the Eurozone's miss on inflation and the US' firm beat on NFP Friday last week, the pair remains exactly where it was before, as market participants continue to focus largely on the US Federal Reserve, and Fed chairman Jerome Powell, whose words last week helped to fuel prospects of a slowing in the Fed's current path of rate hikes, keeping the US Dollar at bay for the time being.
Monday sees a quiet start to the week's economic data, with German and European Retail Sales followed by US ISM and Manufacturing Orders, though the data remains notably low-tier as investors stand in place and await further developments on interest rates, China trade, and a growing economic slowdown.
EUR/USD Technical Levels
Today Last Price: 1.1411
Today Daily change: 8.0 pips
Today Daily change %: 0.0702%
Today Daily Open: 1.1403
Previous Daily SMA20: 1.1388
Previous Daily SMA50: 1.1372
Previous Daily SMA100: 1.148
Previous Daily SMA200: 1.1647
Previous Daily High: 1.142
Previous Daily Low: 1.1345
Previous Weekly High: 1.1586
Previous Weekly Low: 1.1309
Previous Monthly High: 1.1486
Previous Monthly Low: 1.1269
Previous Daily Fibonacci 38.2%: 1.1391
Previous Daily Fibonacci 61.8%: 1.1374
Previous Daily Pivot Point S1: 1.1359
Previous Daily Pivot Point S2: 1.1315
Previous Daily Pivot Point S3: 1.1285
Previous Daily Pivot Point R1: 1.1433
Previous Daily Pivot Point R2: 1.1463
Previous Daily Pivot Point R3: 1.1507