27 Feb 2015
EUR/USD sidelined above 1.1200
FXStreet (Edinburgh) - The common currency is trading on a sideline pattern at the end of the week, taking EUR/USD just above the 1.1200 handle.
EUR/USD depressed on USD strength
The pair surrendered its comfort zone around the mid-1.1300s that prevailed in recent weeks, dragged sharply lower by a resurgence of the buying interest around the greenback after auspicious inflation figures in the US economy during January. Spot dropped to the 1.1180 area in the wake of the releases although managed to retake 1.1200 today.
Next on tap for the pair will be German flash consumer prices for the month of February ahead of another revision of the US Q4 GDP, Pending Home Sales and the Reuters/Michigan index.
EUR/USD relevant levels
As of writing the pair is advancing 0.15% at 1.1215 with the next hurdle at 1.1300 (psychological level) followed by 1.1335 (10-d MA) and finally 1.1350 (21-d MA). On the downside, a dip beyond 1.1184 (low Feb.26) would expose 1.1098 (11-year low Jan.26) and then 1.1047 (low Sep.8 2003).
EUR/USD depressed on USD strength
The pair surrendered its comfort zone around the mid-1.1300s that prevailed in recent weeks, dragged sharply lower by a resurgence of the buying interest around the greenback after auspicious inflation figures in the US economy during January. Spot dropped to the 1.1180 area in the wake of the releases although managed to retake 1.1200 today.
Next on tap for the pair will be German flash consumer prices for the month of February ahead of another revision of the US Q4 GDP, Pending Home Sales and the Reuters/Michigan index.
EUR/USD relevant levels
As of writing the pair is advancing 0.15% at 1.1215 with the next hurdle at 1.1300 (psychological level) followed by 1.1335 (10-d MA) and finally 1.1350 (21-d MA). On the downside, a dip beyond 1.1184 (low Feb.26) would expose 1.1098 (11-year low Jan.26) and then 1.1047 (low Sep.8 2003).