7 Apr 2014
EUR/USD extends beyond 1.3700
FXStreet (Edinburgh) - The single currency managed to retake the 1.3700 handle at the beginning of the trading week, pushing the EUR/USD to a test beyond 1.3720.
EUR/USD bolstered by data
Positive data from the German industrial sector showed the Industrial Production expanding at a monthly pace of 0.4% during February, although the Sentix index came in below expectations for the month of April, trimming some bullish momentum later. “All in all, today’s numbers confirm once again that a strong growth performance, at least in the first quarter, is in the making. The German economy is powering ahead… In our view, domestic investment should continue to pick up, but only at a subdued level. Investment growth this year should rather be a cyclical rebound than a structural shift”, commented Carsten Brzeski, Analyst at ING Bank NV.
EUR/USD key levels
At the moment the pair is up 0.07% en 1.3713 with the next resistance at 1.3732 (high Apr.4) followed by 1.3756 (10-d MA() and then 1.3808 (high Apr.3). On the other hand, a breakdown of 1.3695 (21w-MA) would expose 13690 (100-d MA) and finally 1.3672 (low Apr.4).
EUR/USD bolstered by data
Positive data from the German industrial sector showed the Industrial Production expanding at a monthly pace of 0.4% during February, although the Sentix index came in below expectations for the month of April, trimming some bullish momentum later. “All in all, today’s numbers confirm once again that a strong growth performance, at least in the first quarter, is in the making. The German economy is powering ahead… In our view, domestic investment should continue to pick up, but only at a subdued level. Investment growth this year should rather be a cyclical rebound than a structural shift”, commented Carsten Brzeski, Analyst at ING Bank NV.
EUR/USD key levels
At the moment the pair is up 0.07% en 1.3713 with the next resistance at 1.3732 (high Apr.4) followed by 1.3756 (10-d MA() and then 1.3808 (high Apr.3). On the other hand, a breakdown of 1.3695 (21w-MA) would expose 13690 (100-d MA) and finally 1.3672 (low Apr.4).