20 Mar 2015
EUR/USD back from highs
FXStreet (Edinburgh) - The European currency is now deflating from session highs, sending EUR/USD back to the 1.0820 region.
EUR/USD focus on Greece, EMU data
The pair is posting gains for the first time in the last five weeks mainly backed by a softer tone from the US dollar following this week’s FOMC meeting. Spot remains well poised for the start of next week, where a key meeting between Greek PM A.Tsipras and German Chancellor A.Merkel will set the tone on Monday followed by preliminary manufacturing/services PMIs in Euroland (Tuesday) and the German IFO on Wednesday.
EUR/USD levels to consider
At the moment the pair is up 1.49% at 1.0819 and a breakout of 1.0900 (psychological level) would target 1.0920 (high Mar.19) and then 1.0940 (21-d MA). On the downside, the immediate support lines up at 1.0650 (hourly low Mar.20) followed by 1.0635 (100-h MA) and finally 1.0613 (low Mar.19).
EUR/USD focus on Greece, EMU data
The pair is posting gains for the first time in the last five weeks mainly backed by a softer tone from the US dollar following this week’s FOMC meeting. Spot remains well poised for the start of next week, where a key meeting between Greek PM A.Tsipras and German Chancellor A.Merkel will set the tone on Monday followed by preliminary manufacturing/services PMIs in Euroland (Tuesday) and the German IFO on Wednesday.
EUR/USD levels to consider
At the moment the pair is up 1.49% at 1.0819 and a breakout of 1.0900 (psychological level) would target 1.0920 (high Mar.19) and then 1.0940 (21-d MA). On the downside, the immediate support lines up at 1.0650 (hourly low Mar.20) followed by 1.0635 (100-h MA) and finally 1.0613 (low Mar.19).