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18 Feb 2014
EUR/USD treading water around 1.3760
FXStreet (Edinburgh) - The single currency now attempts to consolidate its intraday advance against the greenback, taking the EUR/USD to the area of 1.3755/60.
EUR/USD focus on the FOMC minutes
Tomorrow’s docket in the euro area is pretty much non-existent, with only EMU’s Construction Output due. However, the main event will be the release of the FOMC minutes in the European evening, with the focus on the USD-side of the equation amidst the current EUR bullish momentum. “We could see a run at the late 2013 1.3895 highs before all is said and done. 1.40 may not be an impossible target. However, EUR/USD would look overdone at these and we would look at establish shorts here”, suggested Richard Franulovich, Analyst at the Australian Westpac.
EUR/USD levels to consider
At the moment the pair is gaining 0.36% at 1.3756 with the next resistance at 1.3770 (high Feb.18) followed by 1.3776 (2014 high Jan.2) and then 1.3800 (psychological level). On the downside, a breach of 1.3692 (daily cloud top) would aim for 1.3685 (low Feb.17) and finally 1.3674 (low Feb.14).
EUR/USD focus on the FOMC minutes
Tomorrow’s docket in the euro area is pretty much non-existent, with only EMU’s Construction Output due. However, the main event will be the release of the FOMC minutes in the European evening, with the focus on the USD-side of the equation amidst the current EUR bullish momentum. “We could see a run at the late 2013 1.3895 highs before all is said and done. 1.40 may not be an impossible target. However, EUR/USD would look overdone at these and we would look at establish shorts here”, suggested Richard Franulovich, Analyst at the Australian Westpac.
EUR/USD levels to consider
At the moment the pair is gaining 0.36% at 1.3756 with the next resistance at 1.3770 (high Feb.18) followed by 1.3776 (2014 high Jan.2) and then 1.3800 (psychological level). On the downside, a breach of 1.3692 (daily cloud top) would aim for 1.3685 (low Feb.17) and finally 1.3674 (low Feb.14).