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27 Jan 2015
EUR/USD pushes higher to 1.1380
FXStreet (Edinburgh) - EUR/USD pushes higher to 1.1380
The upbeat momentum around the risk appetite is gathering steam now, pushing EUR/USD to fresh tops in the 1.1380 neighbourhood.
EUR/USD improves after US data
The favourable context for the risk-on trade has been sustaining the better tone in the pair since the beginning of the week. In addition, recent disappointing results from US Durable Goods gave extra wings to the pair, which is now reclaiming the upper band of the range around 1.1380/90.
However, caution amongst traders is set to come back to the markets ahead of the FOMC meeting due tomorrow, somehow limiting potential EUR gains.
EUR/USD key levels
At the moment the pair is advancing 0.81% at 1.1355 and a breakout 1.1389 (50% of 1.1680-1.1098) would expose 1.1400 (psychological level) and finally 1.1458 (61.8% of 1.1680-1.1098). On the flip side, the immediate support lines up at 1.1224 (hourly low Jan.27) ahead of 1.1098 (11-year low Jans.26) and then 1.1047 (low Sep.8 2003).
The upbeat momentum around the risk appetite is gathering steam now, pushing EUR/USD to fresh tops in the 1.1380 neighbourhood.
EUR/USD improves after US data
The favourable context for the risk-on trade has been sustaining the better tone in the pair since the beginning of the week. In addition, recent disappointing results from US Durable Goods gave extra wings to the pair, which is now reclaiming the upper band of the range around 1.1380/90.
However, caution amongst traders is set to come back to the markets ahead of the FOMC meeting due tomorrow, somehow limiting potential EUR gains.
EUR/USD key levels
At the moment the pair is advancing 0.81% at 1.1355 and a breakout 1.1389 (50% of 1.1680-1.1098) would expose 1.1400 (psychological level) and finally 1.1458 (61.8% of 1.1680-1.1098). On the flip side, the immediate support lines up at 1.1224 (hourly low Jan.27) ahead of 1.1098 (11-year low Jans.26) and then 1.1047 (low Sep.8 2003).