7 Apr 2014
EUR/USD deflates to 1.3720
FXStreet (Edinburgh) - After hitting fresh 2-day highs near 1.3740, the EUR/USD is now easing to the area of 1.3725/20.
EUR/USD boosted by comments, data
Upbeat data from the German industrial production during February (0.4% MoM) plus comments from ECB’s Y.Wersch stating that the implementation of some sort of quantitative easing in the euro area is still quite far away have given wings to the pair, however the bullish intent stalled just below 1.3740. With Consumer Credit Change only due in the US and the Sentix index a tad lower than expectations in the euro area, the pair would likely keep its tone above 1.3700 the figure. “There is a band of support ($1.3640-80) that may limit the losses in the near-term, though a break of it would be significant. On the upside, the $1.3740-60 should cap upticks”, observed analysts at BBH.
EUR/USD key levels
At the moment the pair is up 0.14% en 1.3723 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 boosted by comments, data
Upbeat data from the German industrial production during February (0.4% MoM) plus comments from ECB’s Y.Wersch stating that the implementation of some sort of quantitative easing in the euro area is still quite far away have given wings to the pair, however the bullish intent stalled just below 1.3740. With Consumer Credit Change only due in the US and the Sentix index a tad lower than expectations in the euro area, the pair would likely keep its tone above 1.3700 the figure. “There is a band of support ($1.3640-80) that may limit the losses in the near-term, though a break of it would be significant. On the upside, the $1.3740-60 should cap upticks”, observed analysts at BBH.
EUR/USD key levels
At the moment the pair is up 0.14% en 1.3723 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).