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15 May 2014
EUR/USD little changed on US data
FXStreet (Edinburgh) - The shared currency kept the composure after a set of positive results from the US docket on Thursday, with the EUR/USD clinging to the 1.3650 region.
EUR/USD supported near 1.3650… for now
The pair is now attempting to stabilize the ongoing decline in the mid-1.3600s region so far, after US Claims dropped below 300K for the first time since 2007 and the Empire State index jumped to 19.01 in May from April’s 1.29. Further data showed acceleration in the consumer prices gauged by the Core CPI, rising 1.8% YoY vs. 1.7% previous and headline CPI is back to 2% (last time was July 2013). “Expect initial resistance into 1.3725 while any failure to reclaim 1.3750 may confine the pair lower subsequently. Meanwhile, the 1.3690/00 region may support on initial dips”, suggested Emmanuel Ng, FX Strategist at OCBC Bank.
EUR/USD levels to watch
As of writing the pair is losing 0.36% at 1.3665 facing the next support at 1.3643 (low Feb.27) followed by 1.3625 (50% of 1.3477-1.3773) and finally 1.3585 (low Feb.13). On the upside, a break above 1.3723 (high May 15) would target 1.3731 (high May 15) en route to 1.3741 (100-d MA).
EUR/USD supported near 1.3650… for now
The pair is now attempting to stabilize the ongoing decline in the mid-1.3600s region so far, after US Claims dropped below 300K for the first time since 2007 and the Empire State index jumped to 19.01 in May from April’s 1.29. Further data showed acceleration in the consumer prices gauged by the Core CPI, rising 1.8% YoY vs. 1.7% previous and headline CPI is back to 2% (last time was July 2013). “Expect initial resistance into 1.3725 while any failure to reclaim 1.3750 may confine the pair lower subsequently. Meanwhile, the 1.3690/00 region may support on initial dips”, suggested Emmanuel Ng, FX Strategist at OCBC Bank.
EUR/USD levels to watch
As of writing the pair is losing 0.36% at 1.3665 facing the next support at 1.3643 (low Feb.27) followed by 1.3625 (50% of 1.3477-1.3773) and finally 1.3585 (low Feb.13). On the upside, a break above 1.3723 (high May 15) would target 1.3731 (high May 15) en route to 1.3741 (100-d MA).