23 Dec 2014
EUR/USD waiting for US data – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, upcoming moves in the EUR/USD pair will be linked to the US data to be released ahead in the day, noting that a break below 1.2216 may lead to the pair to see 1.2190 and 1.2150 levels.
Key Quotes
“The EUR/USD pair has shown little signs of life during this Tuesday, having posted a fresh year low late Monday at 1.2216. The high of the day has been posted at 1.2245, leaving intraday technical indicators flat.”
“Later today, the US will release its final revision of its GDP, expected at 4.3% from a previous estimate of 3.9%, and Durable Goods Orders, also expected to pick up. So basically, upcoming EUR/USD move will be linked to those readings.“
“Nevertheless, the technical picture is clearly bearish, despite current lack of directional strength, with the year low above mentioned standing as immediate short term support. A break below it should lead to a continued slide, with next supports at 1.2190 and the 1.2150 price zone.”
“The 4 hours 20 SMA offers immediate resistance around 1.2250, with a recovery above it exposing the pair to a short rally up to 1.2270/80 price zone.”
“US data has to be beyond disappointing to see the pair approaching the 1.2300 figure before the day is over.”
Key Quotes
“The EUR/USD pair has shown little signs of life during this Tuesday, having posted a fresh year low late Monday at 1.2216. The high of the day has been posted at 1.2245, leaving intraday technical indicators flat.”
“Later today, the US will release its final revision of its GDP, expected at 4.3% from a previous estimate of 3.9%, and Durable Goods Orders, also expected to pick up. So basically, upcoming EUR/USD move will be linked to those readings.“
“Nevertheless, the technical picture is clearly bearish, despite current lack of directional strength, with the year low above mentioned standing as immediate short term support. A break below it should lead to a continued slide, with next supports at 1.2190 and the 1.2150 price zone.”
“The 4 hours 20 SMA offers immediate resistance around 1.2250, with a recovery above it exposing the pair to a short rally up to 1.2270/80 price zone.”
“US data has to be beyond disappointing to see the pair approaching the 1.2300 figure before the day is over.”