Back
15 Jan 2015
EUR/USD returns to 1.1700 on US data
FXStreet (Edinburgh) - Better-than-expected US docket today prompted EUR/USD to return to the 1.1700 neighbourhood from the 1.1735/30 region.
EUR/USD remains vulnerable
Spot is clinging to the 1.1700 handle after US Producer Prices came in above expectations during December, advancing 1.1% on a yearly basis and contracting 0.3% inter-month; despite the figures bettered estimates they’re lower than November’s readings. Further data showed the regional gauge of the manufacturing sector tracked by the Empire State index jumping to 9.95 for the month of December from -1.23 and 5.00 forecasted. Intial Claims, on the other hand, failed to meet consensus and increased to 316K in the week ended on January 9th vs. 297K from the previous week.
EUR/USD key levels
At the moment the pair is down 0.73% at 1.1703 with the next support at 1.1580 (2015 low Jan.15) ahead of 1.1376 (low Nov. 2003) and then 1.1212 (61.8% of 0.8228-1.6040). On the upside, a breakout of 1.1792 (high Jan.15) would open the door to 1.1845 (10-d MA) and finally 1.1871 (high Jan.12).
EUR/USD remains vulnerable
Spot is clinging to the 1.1700 handle after US Producer Prices came in above expectations during December, advancing 1.1% on a yearly basis and contracting 0.3% inter-month; despite the figures bettered estimates they’re lower than November’s readings. Further data showed the regional gauge of the manufacturing sector tracked by the Empire State index jumping to 9.95 for the month of December from -1.23 and 5.00 forecasted. Intial Claims, on the other hand, failed to meet consensus and increased to 316K in the week ended on January 9th vs. 297K from the previous week.
EUR/USD key levels
At the moment the pair is down 0.73% at 1.1703 with the next support at 1.1580 (2015 low Jan.15) ahead of 1.1376 (low Nov. 2003) and then 1.1212 (61.8% of 0.8228-1.6040). On the upside, a breakout of 1.1792 (high Jan.15) would open the door to 1.1845 (10-d MA) and finally 1.1871 (high Jan.12).