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27 Mar 2014
EUR/USD keeps the red near 1.3740
FXStreet (Edinburgh) - The shared currency remains unable to gather any traction on Thursday, taking the EUR/USD to the lower band of the intraday range at 1.3740/35.
EUR/USD focus on EMU’s data on Friday
Friday’s docket in the euro area seems quite interesting a priori, with EMU’s Consumer Confidence and Economic Sentiment taking centre stage during the European morning ahead of German inflation figures. Across the pond, Consumer Sentiment tracked by the Reuters/Michigan index would be in the spotlight. “The 50-day MA (1.3717) might provide some support; however with the risk of CPI on Monday and the ECB on Thursday, we would expect a break well below this level… We have made no change to our year-end forecast, expecting EUR to trend towards 1.30”.
EUR/USD significant levels
As of writing the pair is losing 0.25% en 1.3744 and a breakdown of 1.3722 (50% of 1.3477-1.3967) would target 1.3720 (low Mar.6) en route to 1.3707 (low Mar.5). On the flip side, the initial hurdle aligns at 1.3825 (21-d MA) followed by 1.3827 (high Mar.26) and finally 1.3848 (high Mar.25).
EUR/USD focus on EMU’s data on Friday
Friday’s docket in the euro area seems quite interesting a priori, with EMU’s Consumer Confidence and Economic Sentiment taking centre stage during the European morning ahead of German inflation figures. Across the pond, Consumer Sentiment tracked by the Reuters/Michigan index would be in the spotlight. “The 50-day MA (1.3717) might provide some support; however with the risk of CPI on Monday and the ECB on Thursday, we would expect a break well below this level… We have made no change to our year-end forecast, expecting EUR to trend towards 1.30”.
EUR/USD significant levels
As of writing the pair is losing 0.25% en 1.3744 and a breakdown of 1.3722 (50% of 1.3477-1.3967) would target 1.3720 (low Mar.6) en route to 1.3707 (low Mar.5). On the flip side, the initial hurdle aligns at 1.3825 (21-d MA) followed by 1.3827 (high Mar.26) and finally 1.3848 (high Mar.25).