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24 Feb 2014
EUR/USD climbs near 1.3760
FXStreet (Edinburgh) - The shared currency is trading in an upbeat tone at he beginning of the week, pushing the EUR/USD to session highs near 1.3760.
EUR/USD focus on IFO, EMU CPI
The par would remain under pressure however, as the German IFO series are due later followed by the final inflation figures in the euro bloc for the month of January. Consensus expects mixed results from the IFO while consumer prices should have expanded at an annual pace of 0.7%. Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair “continues to hold over the near term support line, which lies at 1.3724 today, while this holds the market remains slightly bid, however we continue to view the upside as limited”.
EUR/USD significant levels
At the moment the pair is up 0.08% at 1.3749 with the immediate resistance at 1.3763 (high Feb.20) followed by 1.3773 (high Feb.19) and then 1.3777 (2014 high Jan.2). On the flip side, a breakdown of 1.3702 (low Feb.21) would expose 1.3691 (10-d MA) and finally 1.3685 (low Feb.20).
EUR/USD focus on IFO, EMU CPI
The par would remain under pressure however, as the German IFO series are due later followed by the final inflation figures in the euro bloc for the month of January. Consensus expects mixed results from the IFO while consumer prices should have expanded at an annual pace of 0.7%. Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair “continues to hold over the near term support line, which lies at 1.3724 today, while this holds the market remains slightly bid, however we continue to view the upside as limited”.
EUR/USD significant levels
At the moment the pair is up 0.08% at 1.3749 with the immediate resistance at 1.3763 (high Feb.20) followed by 1.3773 (high Feb.19) and then 1.3777 (2014 high Jan.2). On the flip side, a breakdown of 1.3702 (low Feb.21) would expose 1.3691 (10-d MA) and finally 1.3685 (low Feb.20).