24 Mar 2015
EUR/USD supported around 1.0900
FXStreet (Edinburgh) - The correction lower in EUR/USD seems to have found decent support in the 1.0890/1.0900 region so far.
EUR/USD lower on USD
The re-emergence of the dollar upside has accelerated following the auspicious results from the US docket today, showing inflation figures, New Home Sales and Markit’s PMI all surpassing forecasts.
In addition, Fed’s Bullard emphasized that the current levels of very low rates are not compatible with the performance of the economy, advocating for a rate hike in June.
EUR/USD important levels
The pair is now losing 0.14% at 1.0930 and a break below 1.0890 (low Mar.24) would open the door to 1.0780 (100-h MA) and then 1.0768 (hourly low Mar.23). On the other hand, the immediate hurdle lines up at 1.1062 (high Mar.18) ahead of 1.1115 (high Mar.5) and then 1.1123 (61.8% of 1.1534-1.0457).
EUR/USD lower on USD
The re-emergence of the dollar upside has accelerated following the auspicious results from the US docket today, showing inflation figures, New Home Sales and Markit’s PMI all surpassing forecasts.
In addition, Fed’s Bullard emphasized that the current levels of very low rates are not compatible with the performance of the economy, advocating for a rate hike in June.
EUR/USD important levels
The pair is now losing 0.14% at 1.0930 and a break below 1.0890 (low Mar.24) would open the door to 1.0780 (100-h MA) and then 1.0768 (hourly low Mar.23). On the other hand, the immediate hurdle lines up at 1.1062 (high Mar.18) ahead of 1.1115 (high Mar.5) and then 1.1123 (61.8% of 1.1534-1.0457).