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14 Apr 2015
EUR/USD deflates from 1.0700
FXStreet (Edinburgh) - After briefly surpassed the 1.0700 handle, the upside in EUR/USD has run out of steam and is now pushing spot back to the 1.0670 region.
EUR/USD in 2-day tops
Poor data releases in the US economy today allowed the pair to recover part of the deep pullback from last week, managing to clinch the 1.0700 neighbourhood albeit fading the spike aftwerwards.
Back to Euroland, mixed March inflation figures from Spain and Italy contrasted with the firm tone from EMU’s Industrial Production during February, although the pair practically paid no attention, more concentrated in the USD-side of the equation.
EUR/USD key levels
The pair is now advancing 1.01% at 1.0673 with the next hurdle at 1.0708 (high Apr.14) followed by 1.0713 (low Mar.31) and then 1.0763 (10-d MA). On the flip side, a breakdown of 1.0521 (low Apr.13) would open the door to 1.0457 (2015 low Mar.18) and finally 1.0360 (low Jan.8 2003).
EUR/USD in 2-day tops
Poor data releases in the US economy today allowed the pair to recover part of the deep pullback from last week, managing to clinch the 1.0700 neighbourhood albeit fading the spike aftwerwards.
Back to Euroland, mixed March inflation figures from Spain and Italy contrasted with the firm tone from EMU’s Industrial Production during February, although the pair practically paid no attention, more concentrated in the USD-side of the equation.
EUR/USD key levels
The pair is now advancing 1.01% at 1.0673 with the next hurdle at 1.0708 (high Apr.14) followed by 1.0713 (low Mar.31) and then 1.0763 (10-d MA). On the flip side, a breakdown of 1.0521 (low Apr.13) would open the door to 1.0457 (2015 low Mar.18) and finally 1.0360 (low Jan.8 2003).