Back
15 May 2015
EUR/USD pushes to highs near 1.1460
FXStreet (Edinburgh) - The European currency has reverted the drop to lows near 1.1340 vs. the dollar, and is now pushing EUR/USD to test fresh multi-week tops near 1.1460.
EUR/USD boosted by poor US data
Another miss from the US docket was enough to force the greenback to give away daily gains, at the same time catapulting spot more than a big-figure to the current levels in the 1.1450/60 band.
The pair gained further traction after the flash Reuters/Michigan index, which tracks US consumer sentiment, dropped to 88.6 for the current month, or 7-month lows. The print added to the already weakness seen from April’s Industrial Production and Capacity Utilization.
EUR/USD levels to consider
At the moment the pair is up 0.25% at 1.1438 with the next resistance at 1.1451 (high May 15) ahead of 1.1486 (high Feb.6) and then 1.1499 (high Feb.5). On the flip side, a breakdown of 1.1268 (10-d MA) would open the door to 1.1202 (low May 13) and then 1.1194 (100-d MA).
EUR/USD boosted by poor US data
Another miss from the US docket was enough to force the greenback to give away daily gains, at the same time catapulting spot more than a big-figure to the current levels in the 1.1450/60 band.
The pair gained further traction after the flash Reuters/Michigan index, which tracks US consumer sentiment, dropped to 88.6 for the current month, or 7-month lows. The print added to the already weakness seen from April’s Industrial Production and Capacity Utilization.
EUR/USD levels to consider
At the moment the pair is up 0.25% at 1.1438 with the next resistance at 1.1451 (high May 15) ahead of 1.1486 (high Feb.6) and then 1.1499 (high Feb.5). On the flip side, a breakdown of 1.1268 (10-d MA) would open the door to 1.1202 (low May 13) and then 1.1194 (100-d MA).