21 Jan 2015
EUR/USD consolidates around 1.1570
FXStreet (Edinburgh) - The common currency now attempts a sideline pattern in the vicinity of 1.1570, while EUR/USD still capped by 1.1590.
EUR/USD and a positive sign?
According to the last information from the ECB’s Loan Survey for the last four months of 2014, the demand for loans in the euro bloc have improved, pointing to a positive prospect for the critical lending activity ahead in the year. In the meantime, and with market fully focused on tomorrow’s ECB meeting, conjectures of all colours continue to build up around the timing and mainly the size of the upcoming sovereign quantitative easing programme by the European Central Bank, confining spot to trade in a narrow range.
EUR/USD key levels
As of writing the pair is up 0.14% at 1.1567 with the next resistance at 1.1615 (high Jan.20) followed by 1.1639 (high Jan.19) and then 1.1649 (high Jan.16). On the downside, a break below 1.1528 (61.8% of 1.1460-1.1639) would aim for 1.1460 (11-year low Jan.16) and finally 1.1445 (low Nov.11 2003).
EUR/USD and a positive sign?
According to the last information from the ECB’s Loan Survey for the last four months of 2014, the demand for loans in the euro bloc have improved, pointing to a positive prospect for the critical lending activity ahead in the year. In the meantime, and with market fully focused on tomorrow’s ECB meeting, conjectures of all colours continue to build up around the timing and mainly the size of the upcoming sovereign quantitative easing programme by the European Central Bank, confining spot to trade in a narrow range.
EUR/USD key levels
As of writing the pair is up 0.14% at 1.1567 with the next resistance at 1.1615 (high Jan.20) followed by 1.1639 (high Jan.19) and then 1.1649 (high Jan.16). On the downside, a break below 1.1528 (61.8% of 1.1460-1.1639) would aim for 1.1460 (11-year low Jan.16) and finally 1.1445 (low Nov.11 2003).