17 Mar 2015
EUR/USD retreats from 1.0640
FXStreet (Edinburgh) - After hitting fresh weekly peaks around 1.0640, EUR/USD is now back to the 1.0600 neighbourhood.
EUR/USD consolidates above 1.0600
The euro remains bid and spot managed to keep the trade above the 1.0600 mark today following the mixed results from the US housing sector, where Building Permits came in at 1.092 million for the month of February vs. 1.065 million forecasted and Housing Starts dropped to 0.897 million missing the median at 1.049 million.
The current resilience around the euro will surely be put to the test tomorrow, in light of the key FOMC meeting. However, rumours that the Committee might strike a hawkish tone seem to have diminished as of late, following poor results from the US docket.
EUR/USD key levels
As of writing the pair is up 0.54% at 1.0625 with the next resistance at 1.0642 (high Mar.17) ahead of 1.0683 (high Mar.12) and then 1.0718 (high Mar.11). On the flip side, a break below 1.0457 (12-year low Mar.16) would expose 1.0335 (2003 low Jan.2) and then 1.0300 (psychological level).
EUR/USD consolidates above 1.0600
The euro remains bid and spot managed to keep the trade above the 1.0600 mark today following the mixed results from the US housing sector, where Building Permits came in at 1.092 million for the month of February vs. 1.065 million forecasted and Housing Starts dropped to 0.897 million missing the median at 1.049 million.
The current resilience around the euro will surely be put to the test tomorrow, in light of the key FOMC meeting. However, rumours that the Committee might strike a hawkish tone seem to have diminished as of late, following poor results from the US docket.
EUR/USD key levels
As of writing the pair is up 0.54% at 1.0625 with the next resistance at 1.0642 (high Mar.17) ahead of 1.0683 (high Mar.12) and then 1.0718 (high Mar.11). On the flip side, a break below 1.0457 (12-year low Mar.16) would expose 1.0335 (2003 low Jan.2) and then 1.0300 (psychological level).