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10 Mar 2014
EUR/USD flirting with 1.3900
FXStreet (Edinburgh) - The single currency is pushing higher on Monday, lifting the EUR/USD to the boundaries of 1.3900 the figure.
EUR/USD eyes on Sentix
The Investor Confidence in the euro area tracked by the Sentix index (14.0 exp.) would take centre stage today, amidst mostly second-tier data releases showing the Industrial Output in both France and Spain missing estimates during January. The are no data releases across the pond, with only the speech by Philly Fed’s Ploser scheduled this midday. The pair managed to recover the ground lost post-Payrolls on Friday, bouncing of the mid-1.38s and trading closer to the key barrier at 1.3900. “A weekly close above 1.3825 (confirmed above 1.3895) should trigger a range flip to 1.4150 if not a broader measured target of 1.4420”, noted Tim Riddell, Head of Global Markets Research at ANZ.
EUR/USD levels to consider
At the moment the pair is up 0.08% at 1.3885 with the next resistance at 1.3915 (2014 high Mar.7) followed by 1.4000 (psychological level) and finally 1.4172 (high Oct.31 2011). On the downside, a breach below 1.3865 (low Mar.10) would open the door to 1.3853 (low Mar.7) and then 1.3811 (23.6% of 1.3477-1.3915).
EUR/USD eyes on Sentix
The Investor Confidence in the euro area tracked by the Sentix index (14.0 exp.) would take centre stage today, amidst mostly second-tier data releases showing the Industrial Output in both France and Spain missing estimates during January. The are no data releases across the pond, with only the speech by Philly Fed’s Ploser scheduled this midday. The pair managed to recover the ground lost post-Payrolls on Friday, bouncing of the mid-1.38s and trading closer to the key barrier at 1.3900. “A weekly close above 1.3825 (confirmed above 1.3895) should trigger a range flip to 1.4150 if not a broader measured target of 1.4420”, noted Tim Riddell, Head of Global Markets Research at ANZ.
EUR/USD levels to consider
At the moment the pair is up 0.08% at 1.3885 with the next resistance at 1.3915 (2014 high Mar.7) followed by 1.4000 (psychological level) and finally 1.4172 (high Oct.31 2011). On the downside, a breach below 1.3865 (low Mar.10) would open the door to 1.3853 (low Mar.7) and then 1.3811 (23.6% of 1.3477-1.3915).