28 Apr 2014
EUR/USD prints highs near 1.3850
FXStreet (Edinburgh) - The single currency is rapidly bouncing off the 1.3820 area, pushing the EUR/USD to hit fresh intraday highs in the 1.3845/50 band.
EUR/USD eyes on CPI data
The pair remains well bid above the 1,3800 handle so far, with investors keeping one eye on the geopolitical scenario (Ukraine-Russia) and the other one in the upcoming inflation figures in the bloc for the month of April (0.8% YoY exp.). “The euro also continues to remain stable in the near-term which is somewhat surprising given that rising geopolitical tensions related to developments in the Ukraine are likely triggering euro supportive capital inflows. In addition, the ongoing tightening of liquidity conditions in the Eurosystem is encouraging a further rise in euro-zone short rates which should prove supportive for the euro”, observed Lee Hardman, Currency Analyst at BTMU.
EUR/USD levels to watch
As of writing the pair is advancing 0.06% at 1.3843 with the next resistance at 1.3855 (high Apr.23) followed by 1.3865 (high Apr.17) and finally 1.3906 (high Apr.11). On the flip side, a breakdown of 1.3805 (21-d MA) would expose 1.3791 (low Apr.24) and then 1.3785 (low Apr.22).
EUR/USD eyes on CPI data
The pair remains well bid above the 1,3800 handle so far, with investors keeping one eye on the geopolitical scenario (Ukraine-Russia) and the other one in the upcoming inflation figures in the bloc for the month of April (0.8% YoY exp.). “The euro also continues to remain stable in the near-term which is somewhat surprising given that rising geopolitical tensions related to developments in the Ukraine are likely triggering euro supportive capital inflows. In addition, the ongoing tightening of liquidity conditions in the Eurosystem is encouraging a further rise in euro-zone short rates which should prove supportive for the euro”, observed Lee Hardman, Currency Analyst at BTMU.
EUR/USD levels to watch
As of writing the pair is advancing 0.06% at 1.3843 with the next resistance at 1.3855 (high Apr.23) followed by 1.3865 (high Apr.17) and finally 1.3906 (high Apr.11). On the flip side, a breakdown of 1.3805 (21-d MA) would expose 1.3791 (low Apr.24) and then 1.3785 (low Apr.22).