3 Feb 2015
EUR/USD climbs to highs beyond 1.1350
FXStreet (Edinburgh) - The European currency is now gathering traction vs. the US dollar, pushing EUR/USD to test intraday tops beyond 1.1350.
EUR/USD bolstered by risk appetite
Positive developments from the Greek front would be behind the current bull run near 1.1360, against a backdrop of better risk-on environment following the RBA rate cut in early trade. In the data space, market participants turned their attention to the US Factory Orders due later, expected to have contracted 2.2% inter-month during December, and adding to the recent disappointment from Durable Goods Orders.
EUR/USD significant levels
At the moment the pair is up 0.11% at 1.1348 with the next hurdle at 1.1363 (high Feb.2) ahead of 1.1364 (high Jan.30) and then 1.1384 (high Jan.28). On the other hand, a breakdown of 1.1280 (low Feb.2) would open the door to 1.1262 (low Jan.29) and finally 1.1224 (low Jan.27).
EUR/USD bolstered by risk appetite
Positive developments from the Greek front would be behind the current bull run near 1.1360, against a backdrop of better risk-on environment following the RBA rate cut in early trade. In the data space, market participants turned their attention to the US Factory Orders due later, expected to have contracted 2.2% inter-month during December, and adding to the recent disappointment from Durable Goods Orders.
EUR/USD significant levels
At the moment the pair is up 0.11% at 1.1348 with the next hurdle at 1.1363 (high Feb.2) ahead of 1.1364 (high Jan.30) and then 1.1384 (high Jan.28). On the other hand, a breakdown of 1.1280 (low Feb.2) would open the door to 1.1262 (low Jan.29) and finally 1.1224 (low Jan.27).