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20 Apr 2015
EUR/USD regains 1.0760
FXStreet (Edinburgh) - The shared currency continues to recover ground lost to the greenback in early trade, now lifting EUR/USD back to the proximity of 1.0760.
EUR/USD follows the risk trends
After briefly bottoming out around 1.0720, the pair managed to gather traction and spark the current recovery although it still trades with losses. In the data sphere, second tier data in Euroland saw German Producer Prices contracting 1.7% on a yearly basis and EMU’s Construction Output dropping to a seasonally adjusted 1.8% inter-month during February.
In the meantime, there is now news from Greece, while market participants keep waiting the Hellenic country to submit a list of (credible) reforms before the Eurogroup meeting on Friday.
EUR/USD levels to consider
The pair is now losing 0.39% at 1.0764 with the immediate support at 1.0712 (low Apr.20) ahead of 1.0708 (10-d MA) and finally 1.0704 (Tenkan Sen). On the flip side, a surpass of 1.0799 (21-d MA) would target 1.0825 (high Apr.20) en route to 1.0849 (high Apr.17).
EUR/USD follows the risk trends
After briefly bottoming out around 1.0720, the pair managed to gather traction and spark the current recovery although it still trades with losses. In the data sphere, second tier data in Euroland saw German Producer Prices contracting 1.7% on a yearly basis and EMU’s Construction Output dropping to a seasonally adjusted 1.8% inter-month during February.
In the meantime, there is now news from Greece, while market participants keep waiting the Hellenic country to submit a list of (credible) reforms before the Eurogroup meeting on Friday.
EUR/USD levels to consider
The pair is now losing 0.39% at 1.0764 with the immediate support at 1.0712 (low Apr.20) ahead of 1.0708 (10-d MA) and finally 1.0704 (Tenkan Sen). On the flip side, a surpass of 1.0799 (21-d MA) would target 1.0825 (high Apr.20) en route to 1.0849 (high Apr.17).