27 Mar 2014
EUR/USD has pulled up to 1.38 handle
FXStreet (Guatemala) - EUR/USD is pulling back up towards the 1.38 handle after a long grind and slow drift from above 1.3820 on yesterdays business.
EUR/USD has been a slow burner of late post the dramatics of Mr Fat Fingers at the start of the week. The pair seems anchored to the 1.38 mark currently but some are calling for a lower Euro. Kit Juckes, Global Head of Currency Strategy at Societe Generale explained that he suspects that the ECB can drive 2-year rates back to 0.35%, driving the EUR down by 1%. However, he added, “On the other hand, I suspect that any boost to QE might extend the risk rally in Europe, helping peripheral spreads and equities, Which is Euro-positive.
EUR/USD Levels
The 20 DMA is 1.3824, the 50 DMA is 1.3710 and the 200 DMA is 1.3499. RSI (14) reads 42.28. Supports are ascending from 1.3720, 1.3749 and spot is 1.3791. Resistances are 1.3800, 1.3813, 1.3830, 1.3848, 1.3881 and 1.3899.
EUR/USD has been a slow burner of late post the dramatics of Mr Fat Fingers at the start of the week. The pair seems anchored to the 1.38 mark currently but some are calling for a lower Euro. Kit Juckes, Global Head of Currency Strategy at Societe Generale explained that he suspects that the ECB can drive 2-year rates back to 0.35%, driving the EUR down by 1%. However, he added, “On the other hand, I suspect that any boost to QE might extend the risk rally in Europe, helping peripheral spreads and equities, Which is Euro-positive.
EUR/USD Levels
The 20 DMA is 1.3824, the 50 DMA is 1.3710 and the 200 DMA is 1.3499. RSI (14) reads 42.28. Supports are ascending from 1.3720, 1.3749 and spot is 1.3791. Resistances are 1.3800, 1.3813, 1.3830, 1.3848, 1.3881 and 1.3899.