21 Mar 2014
EUR/USD recovers to… 1.3800?
FXStreet (Edinburgh) - The risk appetite is growing bigger amongst investors now, pushing the EUR/USD back to the vicinity of 1.3780 and allowing for another test of intraday peaks at the same time.
EUR/USD interim target at 1.3800
The pair is looking to break above the lower band of the weekly range around 1.3760/70 on Friday, with the initial target being the psychological barrier at 1.3800. However, spot still remains under the effects of the FOMC-induced sell-off, which dragged the EUR almost 2 cents lower since Wednesday’s tops. In the data front, EMU’s Current Account rose to €25.3 billion in January (all-time highest surplus), limiting somehow EUR’s downside.
EUR/USD levels to watch
The pair is now up 0.03% at 1.3783 with the next resistance at 1.3805 (Kijun Sen) ahead of 1.3811 (21-d MA) and then 1.3845 (high Mar.20). On the downside, a breach of 1.3749 (low Mar.20) would open the door to 1.3722 (50% of 1.3477-1.3967) and finally 1.3720 (low Mar.6).
EUR/USD interim target at 1.3800
The pair is looking to break above the lower band of the weekly range around 1.3760/70 on Friday, with the initial target being the psychological barrier at 1.3800. However, spot still remains under the effects of the FOMC-induced sell-off, which dragged the EUR almost 2 cents lower since Wednesday’s tops. In the data front, EMU’s Current Account rose to €25.3 billion in January (all-time highest surplus), limiting somehow EUR’s downside.
EUR/USD levels to watch
The pair is now up 0.03% at 1.3783 with the next resistance at 1.3805 (Kijun Sen) ahead of 1.3811 (21-d MA) and then 1.3845 (high Mar.20). On the downside, a breach of 1.3749 (low Mar.20) would open the door to 1.3722 (50% of 1.3477-1.3967) and finally 1.3720 (low Mar.6).