12 Feb 2015
EUR/USD around 1.1340 on EMU data
FXStreet (Edinburgh) - The common currency is now deflating from session highs beyond 1.1350 vs. the greenback, with EUR/USD around 1.1340/45.
EUR/USD muted post-EMU releases
The pair remains propped up by the current wave of renewed buying interest around the EUR, all despite the failed agreement between Greece and the Eurogroup in yesterday’s meeting and the poor data from the industrial sector in the bloc. In fact, Industrial Production came in flat inter-month in December while contracted at an annual pace at 0.2%, both prints below estimates at 0.2% and 0.3%, respectively.
EUR/USD key levels
As of writing the pair is up 0.40% at 1.1339 and a break above of 1.1359 (high Feb.9) would target 1.1400 (psychological level) en route to 1.1438 (21-d MA). On the downside, the initial support aligns at 1.1270 (low Feb.9) ahead of 1.1262 (low Jan.29) and finally 1.1224 (low Jan.27).
EUR/USD muted post-EMU releases
The pair remains propped up by the current wave of renewed buying interest around the EUR, all despite the failed agreement between Greece and the Eurogroup in yesterday’s meeting and the poor data from the industrial sector in the bloc. In fact, Industrial Production came in flat inter-month in December while contracted at an annual pace at 0.2%, both prints below estimates at 0.2% and 0.3%, respectively.
EUR/USD key levels
As of writing the pair is up 0.40% at 1.1339 and a break above of 1.1359 (high Feb.9) would target 1.1400 (psychological level) en route to 1.1438 (21-d MA). On the downside, the initial support aligns at 1.1270 (low Feb.9) ahead of 1.1262 (low Jan.29) and finally 1.1224 (low Jan.27).