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14 May 2015
EUR/USD off highs, back below 1.14
FXStreet (Edinburgh) - The upside in the shared currency is now running out of steam, sending EUR/USD back below the 1.1400 handle.
EUR/USD in multi-week tops
The effects of the recent poor data from the US economy keeps bolstering spot today, climbing beyond the key barrier at 1.1400 and posting 3-month peaks at the same time.
There are no scheduled releases in Euroland, leaving all the attention to the US docket, where Initial Claims and Producer Prices will take centre stage. Market consensus sees Claims at 275K in the week ended on March 8th, while Producer Prices are expected at 0.2% MoM.
EUR/USD levels to consider
At the moment the pair is advancing 0.33% at 1.1392 with the initial hurdle at 1.1432 (high May 14) ahead of 1.1450 (high Feb.17) and then 1.1486 (high Feb.6). On the downside, a break below 1.1341 (low May 14) would aim for 1.1250 (10-d MA) and finally 1.1202 (low May 13).
EUR/USD in multi-week tops
The effects of the recent poor data from the US economy keeps bolstering spot today, climbing beyond the key barrier at 1.1400 and posting 3-month peaks at the same time.
There are no scheduled releases in Euroland, leaving all the attention to the US docket, where Initial Claims and Producer Prices will take centre stage. Market consensus sees Claims at 275K in the week ended on March 8th, while Producer Prices are expected at 0.2% MoM.
EUR/USD levels to consider
At the moment the pair is advancing 0.33% at 1.1392 with the initial hurdle at 1.1432 (high May 14) ahead of 1.1450 (high Feb.17) and then 1.1486 (high Feb.6). On the downside, a break below 1.1341 (low May 14) would aim for 1.1250 (10-d MA) and finally 1.1202 (low May 13).