25 Jun 2014
EUR/USD posts highs near 1.3620
FXStreet (Edinburgh) - The single currency is keeping the trade above the 1.3600 mark so far, taking the EUR/USD to the area of 1.3615/20, or session highs.
EUR/USD focus on the US docket
In the data front, the only release of note was the Consumer Confidence survey in Germany for the month of July, coming in at 8.9 vs. previous estimates at 8.5 and June’s 8.6. Retail Sales and Consumer Confidence in Italy are due next ahead of US Durable Goods Orders and another revision of the GDP Annualized for the first quarter. “While the undertone remains positive, weak upward momentum suggests limited upside potential for now. Continue to expect 1.3575 to hold for another attempt towards the strong resistance at 1.3630”, commented Quek Ser Leang, Market Strategist at UOB Group.
EUR/USD key levels
The pair is now advancing 0.04% en 1.3613 with the next resistance at 1.3634 (high Jun.20) ahead of 1.3644 (high Jun.19) and finally 1.3669 (high Jun.9). On the downside, a breach of 1.3565 (low Jun.20) would open the door to 1.3542 (low Jun.18) and then 1.3536 (low Jun.17).
EUR/USD focus on the US docket
In the data front, the only release of note was the Consumer Confidence survey in Germany for the month of July, coming in at 8.9 vs. previous estimates at 8.5 and June’s 8.6. Retail Sales and Consumer Confidence in Italy are due next ahead of US Durable Goods Orders and another revision of the GDP Annualized for the first quarter. “While the undertone remains positive, weak upward momentum suggests limited upside potential for now. Continue to expect 1.3575 to hold for another attempt towards the strong resistance at 1.3630”, commented Quek Ser Leang, Market Strategist at UOB Group.
EUR/USD key levels
The pair is now advancing 0.04% en 1.3613 with the next resistance at 1.3634 (high Jun.20) ahead of 1.3644 (high Jun.19) and finally 1.3669 (high Jun.9). On the downside, a breach of 1.3565 (low Jun.20) would open the door to 1.3542 (low Jun.18) and then 1.3536 (low Jun.17).