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15 Apr 2015
EUR/USD faded the spike to 1.0680
FXStreet (Edinburgh) - The single currency left the negative ground on Wednesday and pushed EUR/USD to the area of 1.0680, before returning to the mid-1.0600s.
EUR/USD boosted by US data miss
Another set of US data missed expectations, and another bullish attempt of the pair. This time US Industrial Production contracted at a monthly pace of 0.6% during March, reverting February’s 0.1% advance, and the Capacity Utilization dropped to 78.4% in the same period, down from the 79.0% previous.
The pair kept the composure during the press conference by President Draghi, which in general delivered a neutral tone, avoiding questions regarding to the Greek situation and ruling out any QE taper for the time being, adding that the current programme is intended to run until September 2016.
EUR/USD key levels
The pair is now retreating 0.09% at 1.0646 and a breakdown of 1.0521 (low Apr.13) would open the door to 1.0457 (2015 low Mar.18) and finally 1.0360 (low Jan.8 2003). On the flip side, a breakout of 1.0708 (high Apr.14) would expose 1.0713 (low Mar.31) and then 1.0763 (10-d MA).
EUR/USD boosted by US data miss
Another set of US data missed expectations, and another bullish attempt of the pair. This time US Industrial Production contracted at a monthly pace of 0.6% during March, reverting February’s 0.1% advance, and the Capacity Utilization dropped to 78.4% in the same period, down from the 79.0% previous.
The pair kept the composure during the press conference by President Draghi, which in general delivered a neutral tone, avoiding questions regarding to the Greek situation and ruling out any QE taper for the time being, adding that the current programme is intended to run until September 2016.
EUR/USD key levels
The pair is now retreating 0.09% at 1.0646 and a breakdown of 1.0521 (low Apr.13) would open the door to 1.0457 (2015 low Mar.18) and finally 1.0360 (low Jan.8 2003). On the flip side, a breakout of 1.0708 (high Apr.14) would expose 1.0713 (low Mar.31) and then 1.0763 (10-d MA).