13 May 2015
EUR/USD gearing up for 1.14?
FXStreet (Edinburgh) - The shared currency keeps pushing higher on Wednesday, now lifting EUR/USD more than 150 pips to the 1.1370/75 band.
EUR/USD in multi-week tops
The pair is trading in levels last seen in late February in the upper-1.1300s boosted once again by the poor results from the US calendar today, where retail sales missed expectations during April.
The sell off in the European debt markets has also been supporting the upbeat momentum in spot, which remains on track for another attempt to the 1.1400 handle. Data wise in Euroland, market participants managed to quickly shrug off less auspicious results from German and EMU GDP during the first quarter.
EUR/USD levels to watch
At the moment the pair is advancing 1.34% at 1.1364 with the next up barrier at 1.1392 (high May 7) followed by 1.1450 (high Feb.17) and finally 1.1486 (high Feb.6). On the other hand, a break below 1.1202 (low May 13) would expose 1.1131 (low May 11) and then 1.1067 (low May 5).
EUR/USD in multi-week tops
The pair is trading in levels last seen in late February in the upper-1.1300s boosted once again by the poor results from the US calendar today, where retail sales missed expectations during April.
The sell off in the European debt markets has also been supporting the upbeat momentum in spot, which remains on track for another attempt to the 1.1400 handle. Data wise in Euroland, market participants managed to quickly shrug off less auspicious results from German and EMU GDP during the first quarter.
EUR/USD levels to watch
At the moment the pair is advancing 1.34% at 1.1364 with the next up barrier at 1.1392 (high May 7) followed by 1.1450 (high Feb.17) and finally 1.1486 (high Feb.6). On the other hand, a break below 1.1202 (low May 13) would expose 1.1131 (low May 11) and then 1.1067 (low May 5).