Back
16 Mar 2015
EUR/USD upside capped at 1.0620
FXStreet (Edinburgh) - The European currency is now gyrating around 1.0600 the figure, with EUR/USD failing to extends the upside momentum beyond 1.0620 so far.
EUR/USD up from 1.0460
After a brief knee-jerk to fresh 12-year lows around 1.0460 overnight, the pair has been pushing higher following a context of increasing weakness surrounding the US dollar.
Later on, President Draghi is expected to give a speech although market expectations for any major announcements are flat. Tuesday’s docket will bring the ZEW Survey in Germany and the EMU ahead of the final inflation figures in the euro region during February.
EUR/USD levels to consider
The pair is advancing 0.90% at 1.0591 with the next hurdle at 1.0635 (high Mar.13) ahead of 1.0683 (high Mar.12) and then 1.0718 (high Mar.11). On the flip side, a breakdown of 1.0457 (12-year low Mar.16) would expose 1.0335 (2003 low Jan.2) and then 1.0300 (psychological level).
EUR/USD up from 1.0460
After a brief knee-jerk to fresh 12-year lows around 1.0460 overnight, the pair has been pushing higher following a context of increasing weakness surrounding the US dollar.
Later on, President Draghi is expected to give a speech although market expectations for any major announcements are flat. Tuesday’s docket will bring the ZEW Survey in Germany and the EMU ahead of the final inflation figures in the euro region during February.
EUR/USD levels to consider
The pair is advancing 0.90% at 1.0591 with the next hurdle at 1.0635 (high Mar.13) ahead of 1.0683 (high Mar.12) and then 1.0718 (high Mar.11). On the flip side, a breakdown of 1.0457 (12-year low Mar.16) would expose 1.0335 (2003 low Jan.2) and then 1.0300 (psychological level).