27 Jan 2015
EUR/USD assaulting 1.1300, again
FXStreet (Edinburgh) - The European currency keeps its positive tone on Tuesday, now pushing EUR/USD to another test of the 1.1300 key barrier.
EUR/USD looking to consolidate
After a brief dip to levels just below 1.1100 the figure post-Greek elections, spot quickly managed to regain traction and retake not only the 1.1200 handle but also to advance beyond the 1.1300 mark. A favourable context for the risk appetite trends, the offered tone in the greenback and recent appreciations by SNB’s Danthine collaborated with the current recovery, all ahead of the slew of US data out later.
Analysts at TD Securities commented, “EURUSD remains in a range above 1.12 and while we remain conviction EUR bears from a longer-term point of view, we also think there is a chance that the EUR might steady or even squeeze a little higher from a short-term point of view”.
EUR/USD key levels
At the moment the pair is advancing 0.27% at 1.1293 and a breakout of 1.1358 (100-h MA) would open the door to 1.1376 (high Jan.23) and finally 1.1389 (50% of 1.1680-1.1098). On the flip side, the immediate support lines up at 1.1224 (hourly low Jan.27) ahead of 1.1098 (11-year low Jans.26) and then 1.1047 (low Sep.8 2003).
EUR/USD looking to consolidate
After a brief dip to levels just below 1.1100 the figure post-Greek elections, spot quickly managed to regain traction and retake not only the 1.1200 handle but also to advance beyond the 1.1300 mark. A favourable context for the risk appetite trends, the offered tone in the greenback and recent appreciations by SNB’s Danthine collaborated with the current recovery, all ahead of the slew of US data out later.
Analysts at TD Securities commented, “EURUSD remains in a range above 1.12 and while we remain conviction EUR bears from a longer-term point of view, we also think there is a chance that the EUR might steady or even squeeze a little higher from a short-term point of view”.
EUR/USD key levels
At the moment the pair is advancing 0.27% at 1.1293 and a breakout of 1.1358 (100-h MA) would open the door to 1.1376 (high Jan.23) and finally 1.1389 (50% of 1.1680-1.1098). On the flip side, the immediate support lines up at 1.1224 (hourly low Jan.27) ahead of 1.1098 (11-year low Jans.26) and then 1.1047 (low Sep.8 2003).