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24 Mar 2016
EUR/USD spikes to 1.1190 on ECB
A bout of buying interest has seen EUR/USD clinching the area of 1.1190, strongly rebounding from the mid-1.1100s.
EUR/USD bid post-ECB
Spot has been boosted to the proximity of 1.1200 the figure after the ECB informed that the total take up in the last TLTRO was €7.3 billion for 910 days. Although the result prompted the greenback to give away part of its initial gains, the pair remains in the negative territory, returning to the 1.1170 region.
Next on tap for the pair will be US Initial Claims, Services PMI and Durable Goods Orders, all preceding tomorrow’s more relevant Q4 GDP figures.
EUR/USD levels to watch
The pair is now retreating 0.08% at 1.1170 facing the next support at 1.1123 (38.2% Fibo of 1.0709-1.1378) ahead of 1.1084 (20-day sma) and finally 1.1041 (200-day sma). On the flip side, a break above 1.1344 (high Mar.17) would target 1.1378 (2016 high Feb.11) en route to 1.1496 (monthly high Oct.15 2015).
Trade the US Gross Domestic Product - GDP Live Coverage
EUR/USD bid post-ECB
Spot has been boosted to the proximity of 1.1200 the figure after the ECB informed that the total take up in the last TLTRO was €7.3 billion for 910 days. Although the result prompted the greenback to give away part of its initial gains, the pair remains in the negative territory, returning to the 1.1170 region.
Next on tap for the pair will be US Initial Claims, Services PMI and Durable Goods Orders, all preceding tomorrow’s more relevant Q4 GDP figures.
EUR/USD levels to watch
The pair is now retreating 0.08% at 1.1170 facing the next support at 1.1123 (38.2% Fibo of 1.0709-1.1378) ahead of 1.1084 (20-day sma) and finally 1.1041 (200-day sma). On the flip side, a break above 1.1344 (high Mar.17) would target 1.1378 (2016 high Feb.11) en route to 1.1496 (monthly high Oct.15 2015).
Trade the US Gross Domestic Product - GDP Live Coverage