13 Feb 2015
EUR/USD tests 1.1440
FXStreet (Edinburgh) - The single currency remains on the right footing vs. the US dollar at the end of the week, now lifting EUR/USD to session highs around 1.1430/40.
EUR/USD focus on EMU data
Auspicious results from the German flash GDP during the fourth quarter keep bolstering the ongoing EUR strength, while traders now look to the upcoming EMU’s GDP and Trade Balance figures.
Markets remain propped up by the generalized upbeat tone from the risk-associated space, still digesting yesterday’s ECB news (increment of ELA to €65 billion oriented to Greek banks) and the Russia-Ukraine cease-fire (as long as it lasts).
While the greenback continues to take a breather, the US calendar will show Export/Import prices ahead of the more relevant Reuters/Michigan index and the speech by Fed’s R.Fischer.
EUR/USD key levels
As of writing the pair is advancing 0.18% at 1.1431 with the immediate hurdle at 1.1466 (hourly high Feb.6) ahead of 1.1485 (Kijun Sen) and finally 1.1499 (high Feb.5). On the downside, a breach of 1.1390 (21-d MA) would open the door to 1.1378 (10-d MA) and then 1.1303 (low Feb.12).
EUR/USD focus on EMU data
Auspicious results from the German flash GDP during the fourth quarter keep bolstering the ongoing EUR strength, while traders now look to the upcoming EMU’s GDP and Trade Balance figures.
Markets remain propped up by the generalized upbeat tone from the risk-associated space, still digesting yesterday’s ECB news (increment of ELA to €65 billion oriented to Greek banks) and the Russia-Ukraine cease-fire (as long as it lasts).
While the greenback continues to take a breather, the US calendar will show Export/Import prices ahead of the more relevant Reuters/Michigan index and the speech by Fed’s R.Fischer.
EUR/USD key levels
As of writing the pair is advancing 0.18% at 1.1431 with the immediate hurdle at 1.1466 (hourly high Feb.6) ahead of 1.1485 (Kijun Sen) and finally 1.1499 (high Feb.5). On the downside, a breach of 1.1390 (21-d MA) would open the door to 1.1378 (10-d MA) and then 1.1303 (low Feb.12).