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17 Mar 2014
EUR/USD eases to 1.3890
FXStreet (Edinburgh) - The shared currency is now lower near the 1.3890 area vs. the greenback, with the EUR/USD coming back after hitting lows in sub-1.3880 levels.
EUR/USD focus on CPI
Ahead in the day, market participants would focus on the final inflation figures in the euro area for February, with consensus expecting consumer prices to have advanced at an annual pace of 0.8%. Traders largely ignored Sunday’s referendum in Crimea so far, as the outcome seems to have been widely anticipated. “We are a little uncomfortable with the EUR’s extended run higher but the technical underpinnings remain strong, with bullish trend momentum signals evident across a range of short, medium and long-term time frames”, commented Shaun Osborne, Chief FX Strategist at TD Securities.
EUR/USD key levels
The pair is now losing 0.17% at 1.3888 with the next support at 1.3852 (10-d MA) followed by 1.3848 (low Mar.14) and then 1.3843 (low Mar.12). On the upside, a breakout of 1.3925 (high Mar.17) would aim for 1.3938 (high Mar.14) and finally 1.3967 (2014 high Mar.13).
EUR/USD focus on CPI
Ahead in the day, market participants would focus on the final inflation figures in the euro area for February, with consensus expecting consumer prices to have advanced at an annual pace of 0.8%. Traders largely ignored Sunday’s referendum in Crimea so far, as the outcome seems to have been widely anticipated. “We are a little uncomfortable with the EUR’s extended run higher but the technical underpinnings remain strong, with bullish trend momentum signals evident across a range of short, medium and long-term time frames”, commented Shaun Osborne, Chief FX Strategist at TD Securities.
EUR/USD key levels
The pair is now losing 0.17% at 1.3888 with the next support at 1.3852 (10-d MA) followed by 1.3848 (low Mar.14) and then 1.3843 (low Mar.12). On the upside, a breakout of 1.3925 (high Mar.17) would aim for 1.3938 (high Mar.14) and finally 1.3967 (2014 high Mar.13).