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28 Jan 2014
EUR/USD finds support near 1.3630
FXstreet.com (Edinburgh) - The selling interest around the shared currency seems to have bottomed out around 1.3620, with the EUR/USD managing to climb back to the mid 1.36s.
EUR/USD eyes on the US calendar
Spot is now retracing from last week’s peaks near 1.3740, despite the auspicious results from the German IFO and the manufacturing/services PMIs. Jonathan Pryor, Corporate Treasury Analyst at Investec commented, “German IFO survey yesterday bought little market reaction, as did the end of World Economic Forum in Davos. Focus for the EUR remains very much on how the ECB deal with falling inflation and the policy they adopt to ensure GDP doesn’t move in the same direction”.
EUR/USD levels to watch
As of writing the pair is losing 0.21% at 1.3643 with the immediate support at 1.3615 (10-d MA) ahead of 1.3564 (daily cloud base) and then 1.3530 (low Jan.23). On the upside, a surpass of 1.3716 (high Jan.27) would target 1.3740 (high Jan.24) en route to 1.3776 (2014 high Jan.2).
EUR/USD eyes on the US calendar
Spot is now retracing from last week’s peaks near 1.3740, despite the auspicious results from the German IFO and the manufacturing/services PMIs. Jonathan Pryor, Corporate Treasury Analyst at Investec commented, “German IFO survey yesterday bought little market reaction, as did the end of World Economic Forum in Davos. Focus for the EUR remains very much on how the ECB deal with falling inflation and the policy they adopt to ensure GDP doesn’t move in the same direction”.
EUR/USD levels to watch
As of writing the pair is losing 0.21% at 1.3643 with the immediate support at 1.3615 (10-d MA) ahead of 1.3564 (daily cloud base) and then 1.3530 (low Jan.23). On the upside, a surpass of 1.3716 (high Jan.27) would target 1.3740 (high Jan.24) en route to 1.3776 (2014 high Jan.2).