30 Mar 2015
EUR/USD muted post-EMU data
FXStreet (Edinburgh) - The European currency remains in recovery-mode on Monday, now taking EUR/USD back to the 1.0860 region.
EUR/USD supported at 1.0820
The initial selling pressure seems to have found decent support around 1.0820, allowing the current bounce to the mid-1.08s. Spot kept the composure despite recent confidence and sentiment gauges in the euro area surprised investors to the upside with Consumer Confidence, Business Climate and Economic Sentiment all surpassing previous forecasts for the current month.
Ahead in the session, German flash CPI for the month of March is due ahead of US Personal Income/Spending, Pending Home Sales and the inflation figures tracked by the PCE.
EUR/USD key levels
At the moment the pair is retreating 0.14% at 1.0868 with the immediate support at 1.0801 (low Mar.27) ahead of 1.0767 (low Mar.23) and then 1.0760 (50% of 1.0457-1.1062). On the flip side, a breakout of 1.0934 (Kijun Sen) would open the door to 1.0949 (high Mar.27) and finally 1.1052 (high Mar.26).
EUR/USD supported at 1.0820
The initial selling pressure seems to have found decent support around 1.0820, allowing the current bounce to the mid-1.08s. Spot kept the composure despite recent confidence and sentiment gauges in the euro area surprised investors to the upside with Consumer Confidence, Business Climate and Economic Sentiment all surpassing previous forecasts for the current month.
Ahead in the session, German flash CPI for the month of March is due ahead of US Personal Income/Spending, Pending Home Sales and the inflation figures tracked by the PCE.
EUR/USD key levels
At the moment the pair is retreating 0.14% at 1.0868 with the immediate support at 1.0801 (low Mar.27) ahead of 1.0767 (low Mar.23) and then 1.0760 (50% of 1.0457-1.1062). On the flip side, a breakout of 1.0934 (Kijun Sen) would open the door to 1.0949 (high Mar.27) and finally 1.1052 (high Mar.26).