25 Mar 2015
EUR/USD keeps the range post-IFO
FXStreet (Edinburgh) - The single currency remains within the daily range vs. the greenback on Wednesday, taking EUR/USD to the mid-1.0900s so fa.
EUR/USD upside halted on IFO
The upside momentum in the pair seems to have stalled ahead of the 1.0980 area despite the auspicious results from the German IFO indicator, surpassing expectations and showing improvements in all of its components for the current month. The positive results add to the upbeat prospects for the German economy, extending its solid performance.
That was all in the data front from the euro bloc, whereas Durable Goods Orders are due later in the US economy. Consensus expects headline Orders to have expanded 0.4% during February, and Orders excluding the Transportation sector to have grown 0.3%.
EUR/USD important levels
The pair is now up 0.31% at 1.0958 with the next resistance at 1.1029 (high Mar.24) ahead of 1.1062 (high Mar.18) and then 1.1115 (high Mar.5). On the flip side, a breakdown of 1.0891 (low Mar.24) would open the door to 1.0886 (21-d MA) and then 1.0768 (hourly low Mar.23).
EUR/USD upside halted on IFO
The upside momentum in the pair seems to have stalled ahead of the 1.0980 area despite the auspicious results from the German IFO indicator, surpassing expectations and showing improvements in all of its components for the current month. The positive results add to the upbeat prospects for the German economy, extending its solid performance.
That was all in the data front from the euro bloc, whereas Durable Goods Orders are due later in the US economy. Consensus expects headline Orders to have expanded 0.4% during February, and Orders excluding the Transportation sector to have grown 0.3%.
EUR/USD important levels
The pair is now up 0.31% at 1.0958 with the next resistance at 1.1029 (high Mar.24) ahead of 1.1062 (high Mar.18) and then 1.1115 (high Mar.5). On the flip side, a breakdown of 1.0891 (low Mar.24) would open the door to 1.0886 (21-d MA) and then 1.0768 (hourly low Mar.23).