27 Feb 2015
EUR/USD returns to 1.1220 on US data
FXStreet (Edinburgh) -The single currency is giving away port of the initial gains vs. the dollar on Friday, sending EUR/USD to the 1.1225/20 band.
EUR/USD trims gains on GDP
After hitting session highs near 1.1240, the pair shed some pips following a better-than-expected US GDP, expanding 2.2% on a yearly basis during Q4. Consumer Prices tracked by the Personal Consumption Expenditures, contracted 0.4% inter-quarter during the same period, bettering consensus for a 0.5% drop.
Next on tap will be the Chicago PMI, Pending Home Sales and the Reuters/Michigan index.
EUR/USD relevant levels
As of writing the pair is advancing 0.26% at 1.1227 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 trims gains on GDP
After hitting session highs near 1.1240, the pair shed some pips following a better-than-expected US GDP, expanding 2.2% on a yearly basis during Q4. Consumer Prices tracked by the Personal Consumption Expenditures, contracted 0.4% inter-quarter during the same period, bettering consensus for a 0.5% drop.
Next on tap will be the Chicago PMI, Pending Home Sales and the Reuters/Michigan index.
EUR/USD relevant levels
As of writing the pair is advancing 0.26% at 1.1227 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).