2 Feb 2015
EUR/USD regains 1.1350
FXStreet (Edinburgh) - The common currency is extending its bullish momentum at the end of the NA session on Monday, pushing EUR/USD back to the 1.1345/50 region.
EUR/USD propped up by risk
The generalized sentiment favouring the risk appetite remains the main driver behind today’s EUR strength, in spite of the less auspicious releases in China and the mixed prints from the manufacturing PMIs in Euroland. In addition, a better tone from the crude oil prices collaborated with the resurgence of the bid tone in the riskier assets.
Ahead in the week, Italian consumer prices and EMU’s Producer Prices are due tomorrow, prior to US Factory Orders and the speech by Fed’s N.Kocherlakota.
EUR/USD levels to consider
As of writing the pair is advancing 0.48% 1.1354 and a surpass of 1.1368 (high Jan.29) would open the door to 1.1384 (high Jan.28) and then 1.1400 (psychological handle). On the flip side, the immediate support lines up at 1.1262 (low Jan.29) ahead of 1.1261 (50% of 1.1098-1.1423) and then 1.1200 (psychological level).
EUR/USD propped up by risk
The generalized sentiment favouring the risk appetite remains the main driver behind today’s EUR strength, in spite of the less auspicious releases in China and the mixed prints from the manufacturing PMIs in Euroland. In addition, a better tone from the crude oil prices collaborated with the resurgence of the bid tone in the riskier assets.
Ahead in the week, Italian consumer prices and EMU’s Producer Prices are due tomorrow, prior to US Factory Orders and the speech by Fed’s N.Kocherlakota.
EUR/USD levels to consider
As of writing the pair is advancing 0.48% 1.1354 and a surpass of 1.1368 (high Jan.29) would open the door to 1.1384 (high Jan.28) and then 1.1400 (psychological handle). On the flip side, the immediate support lines up at 1.1262 (low Jan.29) ahead of 1.1261 (50% of 1.1098-1.1423) and then 1.1200 (psychological level).