6 Jun 2013
EUR/USD keeps pushing higher
FXstreet.com (Barcelona) - The EUR/USD intensifies its recent bull run beyond 1.3100 the figure on Thursday, printing fresh highs above 1.3130 ahead of German data.
Factory Orders in Germany are expected to contract 0.2% in a year to April while and 1.0% inter-month, leaving behind March’s 2.2% expansion. In light of the upcoming ECB meeting, Currency Analyst Lee Hardman at BTMU commented, “In the accompanying press conference we expect President Draghi to acknowledge the recent signs of economic stabilization provided by the PMI surveys, although still leave the door open to further monetary easing ahead given the weak inflation and growth outlook dampening euro upside potential”.
As of writing, the pair is up 0.25% at 1.3126 and a surpass of 1.3138 (76.4% of 1.3243-1.2796) would bring 1.3194 (high May 8). On the flip side, support levels line up at 1.3043 (MA200d) ahead of 1.2985 (MA10d) and finally 1.2961 (MA21d).
Factory Orders in Germany are expected to contract 0.2% in a year to April while and 1.0% inter-month, leaving behind March’s 2.2% expansion. In light of the upcoming ECB meeting, Currency Analyst Lee Hardman at BTMU commented, “In the accompanying press conference we expect President Draghi to acknowledge the recent signs of economic stabilization provided by the PMI surveys, although still leave the door open to further monetary easing ahead given the weak inflation and growth outlook dampening euro upside potential”.
As of writing, the pair is up 0.25% at 1.3126 and a surpass of 1.3138 (76.4% of 1.3243-1.2796) would bring 1.3194 (high May 8). On the flip side, support levels line up at 1.3043 (MA200d) ahead of 1.2985 (MA10d) and finally 1.2961 (MA21d).