29 Apr 2015
EUR/USD unstoppable, 1.12 on sight
FXStreet (Edinburgh) - The single currency has advanced more than two big-figures since today’s lows in the mid-1.09s, with EUR/USD now meandering the 1.1165/70 band.
EUR/USD boosted by poor US data
The pair is trading in levels last seen in early March in the upper-1.1100s, boosted by today’s miserable print from the US GDP Annualized during Q1. Spot continues its relentless march North backed by the generalized poor performance from the US indicators in the last weeks, although the FOMC meeting today could put the current upside to the test.
Earlier data releases in Euroland saw credit figures improving during March and consumer prices in Germany tracked by the broader HICP rising above estimates 0.3% on a year to April.
EUR/USD key levels
At the moment the pair is up 1.56% at 1.1153 with the next resistance at 1.1189 (high Apr.29) ahead of 1.1200 (psychological level) and finally 1.1218 (high Mar.3). On the downside, a breach of 1.0959 (low Apr.29) would open the door to 1.0928 (55-d MA) and then 1.0860 (low Apr.28).
EUR/USD boosted by poor US data
The pair is trading in levels last seen in early March in the upper-1.1100s, boosted by today’s miserable print from the US GDP Annualized during Q1. Spot continues its relentless march North backed by the generalized poor performance from the US indicators in the last weeks, although the FOMC meeting today could put the current upside to the test.
Earlier data releases in Euroland saw credit figures improving during March and consumer prices in Germany tracked by the broader HICP rising above estimates 0.3% on a year to April.
EUR/USD key levels
At the moment the pair is up 1.56% at 1.1153 with the next resistance at 1.1189 (high Apr.29) ahead of 1.1200 (psychological level) and finally 1.1218 (high Mar.3). On the downside, a breach of 1.0959 (low Apr.29) would open the door to 1.0928 (55-d MA) and then 1.0860 (low Apr.28).