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14 Apr 2015
EUR/USD muted on EMU data
FXStreet (Edinburgh) - The European currency kept the range after EMU’s data on Tuesday, with EUR/USD hovering over the 1.0550/60 band so far.
EUR/USD sidelined around 1.0560
The pair remains in some sort of consolidation in the mid-1.0500s, paying little attention to the auspicious results from the EMU’s Industrial sector releases: Industrial Production in the euro area expanded 1.1% MoM during February and 1.6% on a yearly basis, surpassing both expectations and January’s readings.
There are no further releases in Euroland, although US Retail Sales and the NFIB Business Optimism index will keep the pair under scrutiny.
EUR/USD key levels
The pair is now losing 0.09% at 1.0557 with the next support at 1.0457 (2015 low Mar.16) followed by 1.0400 (psychological level) and then 1.0360 (low Jan.8 2003). On the flip side, a breakout of 1.0620 (high Apr.13) would target 1.0684 (high Apr.10) en route to 1.0713 (Low Mar.31).
EUR/USD sidelined around 1.0560
The pair remains in some sort of consolidation in the mid-1.0500s, paying little attention to the auspicious results from the EMU’s Industrial sector releases: Industrial Production in the euro area expanded 1.1% MoM during February and 1.6% on a yearly basis, surpassing both expectations and January’s readings.
There are no further releases in Euroland, although US Retail Sales and the NFIB Business Optimism index will keep the pair under scrutiny.
EUR/USD key levels
The pair is now losing 0.09% at 1.0557 with the next support at 1.0457 (2015 low Mar.16) followed by 1.0400 (psychological level) and then 1.0360 (low Jan.8 2003). On the flip side, a breakout of 1.0620 (high Apr.13) would target 1.0684 (high Apr.10) en route to 1.0713 (Low Mar.31).