EUR/USD through 1.10 on US data, Fedspeak eyed

EUR/USD has pierced the key barrier at 1.1000 the figure on Monday, in response to mixed releases from the US docket.

EUR/USD remains bid around 1.10

The pair has advanced further above the 1.1000 handle after US Industrial Production has expanded below expectations 0.1% on a monthly basis in September.

Further data saw Capacity Utilization coming in at 75.4% during the same period, a tad below forecasts. On the bright side, Manufacturing Production has expanded 0.2% inter-month, bettering consensus.

The greenback will remain in centre stage in light of the speech by FOMC’s VP S.Fischer on ‘Low Interests Rates’ at the Economic Club of New York Luncheon.

On another direction, EUR speculative net shorts have ticked higher to the highest level since early August during the week ended on October 11, according to the latest CFTC report.

EUR/USD levels to watch

The pair is now gaining 0.26% at 1.1000 facing the next resistance at 1.1051 (4-month prev. support now resistance line) followed by 1.1147 (20-day sma) and finally 1.1174 (200-day sma). On the flip side, a breakdown of 1.0964 (low Oct.17) would target 1.0950 (low Jul.27) en route to 1.0909 (low Jun.24).

 

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