24 Mar 2015
EUR/USD treading water around 1.0920
FXStreet (Edinburgh) - The shared currency seems to have stabilized vs. the greenback as the NA session is drawing to a close, with EUR/USD now sidelined around 1.0920.
EUR/USD focus on German IFO
The pair climbed as high as the 1.1030 level on Tuesday bolstered by a continuation of the weakness around the US dollar. However, strong US inflation figures during the last month helped the greenback to revert the initial negative trend, dragging the pair to sub-1.09 levels.
Moving toward tomorrow’s docket, the German IFO indicator will be the main highlight in Euroland, with consensus pointing to a generalized improvement, while February’s Durable Goods Orders is due across the pond (headline at 0.4% exp.).
EUR/USD important levels
The pair is now losing 0.18% at 1.0925 and a break below 1.0890 (low Mar.24) would open the door to 1.0780 (100-h MA) and then 1.0768 (hourly low Mar.23). On the other hand, the immediate hurdle lines up at 1.1062 (high Mar.18) ahead of 1.1115 (high Mar.5) and then 1.1123 (61.8% of 1.1534-1.0457).
EUR/USD focus on German IFO
The pair climbed as high as the 1.1030 level on Tuesday bolstered by a continuation of the weakness around the US dollar. However, strong US inflation figures during the last month helped the greenback to revert the initial negative trend, dragging the pair to sub-1.09 levels.
Moving toward tomorrow’s docket, the German IFO indicator will be the main highlight in Euroland, with consensus pointing to a generalized improvement, while February’s Durable Goods Orders is due across the pond (headline at 0.4% exp.).
EUR/USD important levels
The pair is now losing 0.18% at 1.0925 and a break below 1.0890 (low Mar.24) would open the door to 1.0780 (100-h MA) and then 1.0768 (hourly low Mar.23). On the other hand, the immediate hurdle lines up at 1.1062 (high Mar.18) ahead of 1.1115 (high Mar.5) and then 1.1123 (61.8% of 1.1534-1.0457).