16 Jan 2015
EUR/USD drops to 1.1540
FXStreet (Edinburgh) - EUR/USD accelerated its downside following further US data releases on Friday, meandering around multi-year lows near 1.1540.
EUR/USD looking for direction
The pair quickly left behind the post-SNB lows in the 1.1570 region, unable to pick up pace despite both the Industrial Production and Capacity Utilization in the US economy came in below consensus. Industrial Production contracted 0.1% inter-month in December while the Capacity Utilization decreased to 79.7% during the same period, vs. 80% expected and previous. The Reuters/Michigan index is due next, with surveys expecting an improvement to 94.1 for the present month, up from 93.6.
EUR/USD key levels
At the moment the pair is losing 0.64% at 1.1544 and a breach of 1.1505 (low Nov.12 2003) would expose 1.1445 (low Nov.11 2003). On the flip side, the initial barrier lines up at 1.1647 (hourly high Jan.16) followed by 1.1792 (high Jan.15) and finally 1.1805 (200-h MA).
EUR/USD looking for direction
The pair quickly left behind the post-SNB lows in the 1.1570 region, unable to pick up pace despite both the Industrial Production and Capacity Utilization in the US economy came in below consensus. Industrial Production contracted 0.1% inter-month in December while the Capacity Utilization decreased to 79.7% during the same period, vs. 80% expected and previous. The Reuters/Michigan index is due next, with surveys expecting an improvement to 94.1 for the present month, up from 93.6.
EUR/USD key levels
At the moment the pair is losing 0.64% at 1.1544 and a breach of 1.1505 (low Nov.12 2003) would expose 1.1445 (low Nov.11 2003). On the flip side, the initial barrier lines up at 1.1647 (hourly high Jan.16) followed by 1.1792 (high Jan.15) and finally 1.1805 (200-h MA).