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12 Mar 2015
EUR/USD treading water above 1.0600
FXStreet (Edinburgh) - The single currency is now looking to stabilize vs. the US dollar, taking EUR/USD to a sideline pattern around 1.0610/15.
EUR/USD boosted by risk, USD weakness
The pair managed to quickly leave behind fresh 12-year lows in the 1.0490 area in early trade to climb as high as the boundaries of 1.0700 the figure following the offered tone around the greenback.
Mixed data from the euro area in the form of national inflation figures and EMU’s industrial production were practically innocuous. Instead, the softer than expected US retail sales gave extra legs to the pair, as market participants factored the results into the potential tone from the FOMC in next week’s meeting.
EUR/USD levels to consider
The pair is advancing 0.60% at 1.0612 with the next hurdle at 1.0718 (high Mar.11) followed by 1.0855 (high Mar.10) and then 1.0906 (high Mar.9). On the downside, a breach of 1.0494 (12-year low Mar.12) would expose 1.0335 (2003 low Jan.2) and finally 1.0207 (low Dec.19 2002).
EUR/USD boosted by risk, USD weakness
The pair managed to quickly leave behind fresh 12-year lows in the 1.0490 area in early trade to climb as high as the boundaries of 1.0700 the figure following the offered tone around the greenback.
Mixed data from the euro area in the form of national inflation figures and EMU’s industrial production were practically innocuous. Instead, the softer than expected US retail sales gave extra legs to the pair, as market participants factored the results into the potential tone from the FOMC in next week’s meeting.
EUR/USD levels to consider
The pair is advancing 0.60% at 1.0612 with the next hurdle at 1.0718 (high Mar.11) followed by 1.0855 (high Mar.10) and then 1.0906 (high Mar.9). On the downside, a breach of 1.0494 (12-year low Mar.12) would expose 1.0335 (2003 low Jan.2) and finally 1.0207 (low Dec.19 2002).