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15 Apr 2015
EUR/USD prints highs near 1.0700
FXStreet (Edinburgh) - The shared currency is now gathering traction vs. the US dollar, with EUR/USD trading closer to the key barrier at 1.0700.
EUR/USD focus on Fed’s Beige Book
Quite volatile session for the pair so far. Spot managed to revert the initial negative trend and climbed to the vicinity of 1.0680 following another set of disappointing results in the US economy, after Industrial Production and Capacity Utilization missed estimates during March.
In another direction, the ECB left its monetary stance on hold, as broadly expected today. Draghi’s delivered a neutral tone in his press conference and confirmed that the QE programme is intended to last until September 2016, ruling out the likeliness of an early taper.
EUR/USD key levels
The pair is now advancing 0.31% at 1.0689 with the next hurdle at 1.0708 (high Apr.14) ahead of 1.0713 (low Mar.31) and then 1.0763 (10-d MA). On the downside, a break below 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 focus on Fed’s Beige Book
Quite volatile session for the pair so far. Spot managed to revert the initial negative trend and climbed to the vicinity of 1.0680 following another set of disappointing results in the US economy, after Industrial Production and Capacity Utilization missed estimates during March.
In another direction, the ECB left its monetary stance on hold, as broadly expected today. Draghi’s delivered a neutral tone in his press conference and confirmed that the QE programme is intended to last until September 2016, ruling out the likeliness of an early taper.
EUR/USD key levels
The pair is now advancing 0.31% at 1.0689 with the next hurdle at 1.0708 (high Apr.14) ahead of 1.0713 (low Mar.31) and then 1.0763 (10-d MA). On the downside, a break below 1.0521 (low Apr.13) would open the door to 1.0457 (2015 low Mar.18) and finally 1.0360 (low Jan.8 2003).