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28 Mar 2014
EUR/USD apathetic on EMU data
FXStreet (Edinburgh) - The shared currency remains isolated from the data releases, with the EUR/USD trading in the lower 1.3700s at the end of the week.
EUR/USD supported near 1.3700
The pair is extending its weekly correction, giving ground in the last four sessions and coming down Monday’s tops near 1.3880. Rumours regarding the likeliness of the ECB to incur in further monetary easing would be weighing on sentiment as of late, helping to drag spot to levels last seen in late February. Data-wise, EMU’s Consumer Confidence and Economic Sentiment came in above estimates in March, at -9.3 and 102.4, respectively, although they failed to generate any traction in the pair.
EUR/USD levels to watch
At the moment the pair is down 0.14% at 1.3720 with the next support at 1.3694 (low Feb.28) ahead of 1.3685 9daily cloud top) and then 1.3647 (daily cloud base). On the flip side a break above 1.3797 (high Mar.27) would open the door to 1.3825 (21-d MA) and finally 1.3827 (high Mar.26).
EUR/USD supported near 1.3700
The pair is extending its weekly correction, giving ground in the last four sessions and coming down Monday’s tops near 1.3880. Rumours regarding the likeliness of the ECB to incur in further monetary easing would be weighing on sentiment as of late, helping to drag spot to levels last seen in late February. Data-wise, EMU’s Consumer Confidence and Economic Sentiment came in above estimates in March, at -9.3 and 102.4, respectively, although they failed to generate any traction in the pair.
EUR/USD levels to watch
At the moment the pair is down 0.14% at 1.3720 with the next support at 1.3694 (low Feb.28) ahead of 1.3685 9daily cloud top) and then 1.3647 (daily cloud base). On the flip side a break above 1.3797 (high Mar.27) would open the door to 1.3825 (21-d MA) and finally 1.3827 (high Mar.26).