21 Jan 2015
EUR/USD back above 1.1600
FXStreet (Edinburgh) - The single currency extends its recovery now, with EUR/USD advancing beyond 1.1600 the figure.
EUR/USD up on mixed US data
The pair’s recovery remains on track on Tuesday, improving beyond the key 1.1600 handle following the mixed data from the US docket. Housing Starts bettered expectations in December climbing to a monthly gain of 1.089 million, surpassing both the median and November’s print; Building Permits, on the contrary, decreased to 1.032 million inter-month from 1.035 million in the previous month. Earlier on, and still in the US economy, Mortgage Applications rose 14.2% in the week ended in January 16 vs. the prior gain of 49.1%.
The better momentum in EUR was supported as well after comments by German Chancellor A.Merkel hit the wires, arguing that there still could be doubts regarding the ECB implementation of QE.
EUR/USD key levels
As of writing the pair is up 0.47% at 1.1606 with the next resistance at 1.1615 (high Jan.20) followed by 1.1639 (high Jan.19) and then 1.1649 (high Jan.16). On the downside, a break below 1.1528 (61.8% of 1.1460-1.1639) would aim for 1.1460 (11-year low Jan.16) and finally 1.1445 (low Nov.11 2003).
EUR/USD up on mixed US data
The pair’s recovery remains on track on Tuesday, improving beyond the key 1.1600 handle following the mixed data from the US docket. Housing Starts bettered expectations in December climbing to a monthly gain of 1.089 million, surpassing both the median and November’s print; Building Permits, on the contrary, decreased to 1.032 million inter-month from 1.035 million in the previous month. Earlier on, and still in the US economy, Mortgage Applications rose 14.2% in the week ended in January 16 vs. the prior gain of 49.1%.
The better momentum in EUR was supported as well after comments by German Chancellor A.Merkel hit the wires, arguing that there still could be doubts regarding the ECB implementation of QE.
EUR/USD key levels
As of writing the pair is up 0.47% at 1.1606 with the next resistance at 1.1615 (high Jan.20) followed by 1.1639 (high Jan.19) and then 1.1649 (high Jan.16). On the downside, a break below 1.1528 (61.8% of 1.1460-1.1639) would aim for 1.1460 (11-year low Jan.16) and finally 1.1445 (low Nov.11 2003).