22 Jan 2015
EUR/USD climbs to highs near 1.1630
FXStreet (Edinburgh) - The European currency is now picking up pace against the US dollar, sending EUR/USD to intraday tops around 1.1625/30.
EUR/USD firm pre-ECB
The pair remains reticent around the 1.1600 handle ahead of the critical ECB meeting and Draghi’s press conference, both due in the European afternoon. So far, prior surveys are tilted to the implementation of a sovereign quantitative easing programme by the ECB of around €600 billion, leaving the door wide open regarding any EUR reaction.
“The initial response is always more likely to be more linked to the size of the buying the bigger the amount is, with the finer details of the mechanics of implementing it and how the risks are shared coming afterward”, argued Derek Halpenny European Head of GMR at BTMU.
EUR/USD levels to consider
At the moment the pair is advancing 0.25% at 1.1618 and a breakout of 1.1629 (high Jan.22) would aim for 1.1680 (high Jan.21) and then 1.1792 (high Jan.15). On the downside, the immediate support lines up at 1.1540 (low Jan.20) ahead of 1.1530 (low Jan.19) and finally 1.1460 (2015 low Jan.16).
EUR/USD firm pre-ECB
The pair remains reticent around the 1.1600 handle ahead of the critical ECB meeting and Draghi’s press conference, both due in the European afternoon. So far, prior surveys are tilted to the implementation of a sovereign quantitative easing programme by the ECB of around €600 billion, leaving the door wide open regarding any EUR reaction.
“The initial response is always more likely to be more linked to the size of the buying the bigger the amount is, with the finer details of the mechanics of implementing it and how the risks are shared coming afterward”, argued Derek Halpenny European Head of GMR at BTMU.
EUR/USD levels to consider
At the moment the pair is advancing 0.25% at 1.1618 and a breakout of 1.1629 (high Jan.22) would aim for 1.1680 (high Jan.21) and then 1.1792 (high Jan.15). On the downside, the immediate support lines up at 1.1540 (low Jan.20) ahead of 1.1530 (low Jan.19) and finally 1.1460 (2015 low Jan.16).