14 Jan 2014
EUR/USD rejected from 1.3700
FXstreet.com (Córdoba) - The EUR/USD saw a short-lived spike toward the 1.3700 area during the European session but it failed to sustain gains and pulled back from highs even after strong Eurozone industrial output data.
EUR/USD erases daily gains despite strong IP figures
Eurozone industrial production increased 1.8% in November and 3% YoY, recording its fastest pace in more than 3 years. However, the euro was unable to benefit from the news and instead retreated from a high of 1.3699 to the 1.3660 zone, erasing intraday gains. At time of writing, the EUR/USD is trading at the 1.3670 region, virtually unchanged since opening.
EUR/USD levels to watch
In terms of technical levels, the EUR/USD could find immediate supports at 1.3648 (daily low), 1.3636 (Jan 13 low) and 1.3600 (psychological level). On the other hand, resistances line up at 1.3700 (psychological level), 1.3757 (Jan 2 high) and 1.3781 (Dec 17 high).
EUR/USD erases daily gains despite strong IP figures
Eurozone industrial production increased 1.8% in November and 3% YoY, recording its fastest pace in more than 3 years. However, the euro was unable to benefit from the news and instead retreated from a high of 1.3699 to the 1.3660 zone, erasing intraday gains. At time of writing, the EUR/USD is trading at the 1.3670 region, virtually unchanged since opening.
EUR/USD levels to watch
In terms of technical levels, the EUR/USD could find immediate supports at 1.3648 (daily low), 1.3636 (Jan 13 low) and 1.3600 (psychological level). On the other hand, resistances line up at 1.3700 (psychological level), 1.3757 (Jan 2 high) and 1.3781 (Dec 17 high).