29 Apr 2015
EUR/USD testing 1.10 on EMU data
FXStreet (Edinburgh) - The shared currency keeps pushing higher on Wednesday, now lifting EUR/USD to the boundaries of the 1.1000 neighbourhood.
EUR/USD in 3-week tops
The buying interest around the euro remains intact today, with spot now assaulting the 1.1000 handle following the set of data from the euro area. In fact, EMU’s Me Money Supply expanded at an annual pace of 4.6% during March, leaving behind consensus at 4.3% and February’s 4.0% gain. Private Loans followed suit, growing above estimates 0.1% on a year to March, reverting the previous 0.1% contraction.
Next on tap in Euroland will be the Consumer Confidence, Economic Sentiment and Business Climate, all ahead of US Q1 GDP Annualized and the FOMC meeting.
EUR/USD key levels
At the moment the pair is gaining 0.16% at 1.0998 with the next resistance at 1.1036 (high Apr.6) ahead of 1.1062 (high Mar.18) and finally 1.1100 (psychological level). On the downside, a breach of 1.0959 (low Apr.29) would open the door to 1.0860 (low Apr.28) and then 1.0819 (low Apr.27).
EUR/USD in 3-week tops
The buying interest around the euro remains intact today, with spot now assaulting the 1.1000 handle following the set of data from the euro area. In fact, EMU’s Me Money Supply expanded at an annual pace of 4.6% during March, leaving behind consensus at 4.3% and February’s 4.0% gain. Private Loans followed suit, growing above estimates 0.1% on a year to March, reverting the previous 0.1% contraction.
Next on tap in Euroland will be the Consumer Confidence, Economic Sentiment and Business Climate, all ahead of US Q1 GDP Annualized and the FOMC meeting.
EUR/USD key levels
At the moment the pair is gaining 0.16% at 1.0998 with the next resistance at 1.1036 (high Apr.6) ahead of 1.1062 (high Mar.18) and finally 1.1100 (psychological level). On the downside, a breach of 1.0959 (low Apr.29) would open the door to 1.0860 (low Apr.28) and then 1.0819 (low Apr.27).