21 Jan 2015
EUR/USD surges to 1.1640
FXStreet (Edinburgh) - The European currency now accelerates its intraday upside vs. the greenback, pushing EUR/USD to session high around 1.1640.
EUR/USD boosted on US data, short-covering
The pair is seeing its buying interest renewed on Tuesday following the mixed tone from the US housing market, after Housing Starts and Building Permits run opposed directions during December. Adding to the bull run, the triggering of short-covering positions and the selling tone from the sterling in EUR/GBP would be giving extra wings to the pair, currently staging fresh weekly highs.
EUR/USD key levels
As of writing the pair is up 0.68% at 1.1631 with the next resistance at 1.1649 (high Jan.16) followed by 1.1694 (200-h MA) and then 1.1702 (10-d MA). On the downside, a break below 1.1528 (61.8% of 1.1460-1.1639) would aim for 1.1460 (11-year low Jan.16) and finally 1.1445 (low Nov.11 2003).
EUR/USD boosted on US data, short-covering
The pair is seeing its buying interest renewed on Tuesday following the mixed tone from the US housing market, after Housing Starts and Building Permits run opposed directions during December. Adding to the bull run, the triggering of short-covering positions and the selling tone from the sterling in EUR/GBP would be giving extra wings to the pair, currently staging fresh weekly highs.
EUR/USD key levels
As of writing the pair is up 0.68% at 1.1631 with the next resistance at 1.1649 (high Jan.16) followed by 1.1694 (200-h MA) and then 1.1702 (10-d MA). On the downside, a break below 1.1528 (61.8% of 1.1460-1.1639) would aim for 1.1460 (11-year low Jan.16) and finally 1.1445 (low Nov.11 2003).