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21 Feb 2014
EUR/USD consolidating above 1.3700
FXStreet (Edinburgh) - The shared currency is looking to consolidate its weekly upside above the 1.3700 barrier, taking the EUR/USD to the region of 1.3740/50 so far.
EUR/USD focus on IFO, CPI
The pair would be under pressure at the very beginning of the next week, where the German IFO series are due followed by the more relevant EMU’s inflation figures. Prior surveys expect mixed results from the German indicator and consumer prices in the bloc to have contracted 0.4% inter-month during January. Market participants would follow the G20 meeting over the weekend, where the EM would take centre stage.
EUR/USD levels to watch
At the time of writing the pair is up 0.15% at 1.3740 and a break above 1.3763 (high Feb.20) would open the door to 1.3773 (high Feb.19) ahead of 1.3777 (2014 high Jan.2). On the downside, the immediate support lines up at 1.3689 (10-d MA) followed by 1.3685 (low Feb.20) and then 1.3674 (low Feb.14).
EUR/USD focus on IFO, CPI
The pair would be under pressure at the very beginning of the next week, where the German IFO series are due followed by the more relevant EMU’s inflation figures. Prior surveys expect mixed results from the German indicator and consumer prices in the bloc to have contracted 0.4% inter-month during January. Market participants would follow the G20 meeting over the weekend, where the EM would take centre stage.
EUR/USD levels to watch
At the time of writing the pair is up 0.15% at 1.3740 and a break above 1.3763 (high Feb.20) would open the door to 1.3773 (high Feb.19) ahead of 1.3777 (2014 high Jan.2). On the downside, the immediate support lines up at 1.3689 (10-d MA) followed by 1.3685 (low Feb.20) and then 1.3674 (low Feb.14).