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22 Apr 2014
EUR/USD climbs beyond 1.3820
FXStreet (Edinburgh) - The shared currency continues to recover from yesterday’s pullback, now lifting the EUR/USD to fresh session highs beyond 1.3820
EUR/USD focus on EMU data
The prevailing risk-on trade is giving tail winds to the pair, now managing to consolidate the advance above the 1.3800 handle. Next on tap will be EMU’s Consumer Confidence, with market consensus expecting an improvement to -9.05 for the present month vs. March’s -9.3; across the pond, Existing Home Sales will be in the spotlight. “While the strong support at 1.3780 is still intact, the drop from yesterday’s high of 1.3830 appears incomplete and extension lower is likely for today. Expect 1.3830 to act as a cap for a move towards 1.3760”, observed Quek Ser Leang, Market Strategist at UOB Group.
EUR/USD levels to consider
At the moment the pair is up 0.20% en 1.3821 with the next hurdle at 1.3830 (high Apr.21) followed by 1.3865 (high Apr.17) and then 1.3906 (high Apr.11). On the downside,, a break below 1.3785 (low Apr.22) would open the door to 1.3780 (low Apr.9) and finally 1.3738 (low Apr.8).
EUR/USD focus on EMU data
The prevailing risk-on trade is giving tail winds to the pair, now managing to consolidate the advance above the 1.3800 handle. Next on tap will be EMU’s Consumer Confidence, with market consensus expecting an improvement to -9.05 for the present month vs. March’s -9.3; across the pond, Existing Home Sales will be in the spotlight. “While the strong support at 1.3780 is still intact, the drop from yesterday’s high of 1.3830 appears incomplete and extension lower is likely for today. Expect 1.3830 to act as a cap for a move towards 1.3760”, observed Quek Ser Leang, Market Strategist at UOB Group.
EUR/USD levels to consider
At the moment the pair is up 0.20% en 1.3821 with the next hurdle at 1.3830 (high Apr.21) followed by 1.3865 (high Apr.17) and then 1.3906 (high Apr.11). On the downside,, a break below 1.3785 (low Apr.22) would open the door to 1.3780 (low Apr.9) and finally 1.3738 (low Apr.8).