21 Mar 2014
EUR/USD sidelined around 1.3790
The EUR’s upside remains capped by the 1.3800 handle on Friday, with the EUR/USD now hovering around 1.3790/85.
EUR/USD focus on Fedspeak, Consumer Confidence
Spot would remain under pressure ahead in the day, as the advanced print of March’s Consumer Prices in the euro bloc is due later, with consensus expecting a small improvement to -12.4. With the effects of the recent FOMC meeting still floating over the markets, traders will be also following today’s speeches by Fed’s Kocherlakota and Stein. In light of next week’s key data, analysts at BBH commented “Next week, the euro area reports the flash PMIs and money supply and lending data, ahead of the preliminary March CPI on March 31. These will help shape expectations for the early April ECB meeting”.
EUR/USD levels to watch
The pair is now up 0.07% at 1.3788 with the next resistance at 1.3805 (Kijun Sen) ahead of 1.3811 (21-d MA) and then 1.3845 (high Mar.20). On the downside, a breach of 1.3749 (low Mar.20) would open the door to 1.3722 (50% of 1.3477-1.3967) and finally 1.3720 (low Mar.6).
EUR/USD focus on Fedspeak, Consumer Confidence
Spot would remain under pressure ahead in the day, as the advanced print of March’s Consumer Prices in the euro bloc is due later, with consensus expecting a small improvement to -12.4. With the effects of the recent FOMC meeting still floating over the markets, traders will be also following today’s speeches by Fed’s Kocherlakota and Stein. In light of next week’s key data, analysts at BBH commented “Next week, the euro area reports the flash PMIs and money supply and lending data, ahead of the preliminary March CPI on March 31. These will help shape expectations for the early April ECB meeting”.
EUR/USD levels to watch
The pair is now up 0.07% at 1.3788 with the next resistance at 1.3805 (Kijun Sen) ahead of 1.3811 (21-d MA) and then 1.3845 (high Mar.20). On the downside, a breach of 1.3749 (low Mar.20) would open the door to 1.3722 (50% of 1.3477-1.3967) and finally 1.3720 (low Mar.6).