26 Jan 2015
EUR/USD advances further, points to 1.1300
FXStreet (Edinburgh) - EUR/USD remains on recovery mode on Monday, climbing to the vicinity of 1.1280 amidst favourable momentum.
EUR/USD firmer on USD dip
The offered tone around the US dollar keeps fuelling the current EUR advance, at the moment navigating the top bound of the range at 1.1270/80. The results from the parliamentary elections in Greece on Sunday showed a victory of the anti-austerity party Syriza, which triggered a short-lived drop in the pair to fresh 11-year low at 1.1098.
Ahead in the week, the FOMC meeting (Wednesday) will dictate the price action for the pair in the very near term, with opinions slightly biased towards a dovish tone from the Committee, all against the backdrop of the recent drop in US CPI.
EUR/USD key levels
At the moment the pair is advancing 0.40% at 1.1253 and a breakout of 1.1288 (high Jan.23) would expose 1.1376 (high Jan.23) and then 1.1472 (Tenkan Sen). On the downside, the next support lines up at 1.1098 (hourly low Jan.26) followed by 1.1047 (low Sep.8 2003) and then 1.1000 (psychological level).
EUR/USD firmer on USD dip
The offered tone around the US dollar keeps fuelling the current EUR advance, at the moment navigating the top bound of the range at 1.1270/80. The results from the parliamentary elections in Greece on Sunday showed a victory of the anti-austerity party Syriza, which triggered a short-lived drop in the pair to fresh 11-year low at 1.1098.
Ahead in the week, the FOMC meeting (Wednesday) will dictate the price action for the pair in the very near term, with opinions slightly biased towards a dovish tone from the Committee, all against the backdrop of the recent drop in US CPI.
EUR/USD key levels
At the moment the pair is advancing 0.40% at 1.1253 and a breakout of 1.1288 (high Jan.23) would expose 1.1376 (high Jan.23) and then 1.1472 (Tenkan Sen). On the downside, the next support lines up at 1.1098 (hourly low Jan.26) followed by 1.1047 (low Sep.8 2003) and then 1.1000 (psychological level).