30 Apr 2014
EUR/USD eyes 1.3880 on US data
FXStreet (Edinburgh) - The EUR/USD is now at shouting distance from weekly peaks at 1.3880 after the US docket disappointed traders on Wednesday.
EUR/USD extends the upside
The intraday bull run in the pair is eyeing the key level at 1.3880 after the US economy expanded at an annual pace of 0.1% during the first three months of 2014, well below forecasts for a 1.2% advance. Further data showed that inflation figures, gauged by the PCE rose 1.4% inter-quarter in Q1, matching consensus. Next on tap will be the Chicago PMI ahead of the FOMC meeting, where the FX community expects another $10 billion taper.
EUR/USD levels to watch
As of writing the pair is advancing 0.35% at 1.3861 with the next hurdle at 1.3880 (high Apr.29) ahead of 1.3906 (high Apr.11) and finally 1.3935 (high Mar.19). On the other hand, a break below 1.3771 (low Apr.30) would target 1.3738 (low Apr.8) en route to 1.3729 (100-d MA).
EUR/USD extends the upside
The intraday bull run in the pair is eyeing the key level at 1.3880 after the US economy expanded at an annual pace of 0.1% during the first three months of 2014, well below forecasts for a 1.2% advance. Further data showed that inflation figures, gauged by the PCE rose 1.4% inter-quarter in Q1, matching consensus. Next on tap will be the Chicago PMI ahead of the FOMC meeting, where the FX community expects another $10 billion taper.
EUR/USD levels to watch
As of writing the pair is advancing 0.35% at 1.3861 with the next hurdle at 1.3880 (high Apr.29) ahead of 1.3906 (high Apr.11) and finally 1.3935 (high Mar.19). On the other hand, a break below 1.3771 (low Apr.30) would target 1.3738 (low Apr.8) en route to 1.3729 (100-d MA).