25 Mar 2015
EUR/USD in consolidation mode
FXStreet (Edinburgh) - EUR/USD remains in the mid-1.0900s so far, following the consolidative trend in the broader markets on Wednesday.
EUR/USD capped by 1.0980
Previously, a bullish attempt lost vigour in the boundaries of 1.0980, in spite of the better-than-expected results from the IFO indicators during March, confirming the good pace of the German economy.
The pair remained apathetic following the speech by Fed’s Evans. He argued that a rate hike is not compatible with the current levels of low inflation and a sooner than expected rate hike carries more risks than a delayed one; he sees rates up during 2016.
EUR/USD important levels
The pair is now up 0.36% at 1.0964 with the next resistance at 1.1029 (high Mar.24) ahead of 1.1062 (high Mar.18) and then 1.1115 (high Mar.5). On the flip side, a breakdown of 1.0891 (low Mar.24) would open the door to 1.0886 (21-d MA) and then 1.0768 (hourly low Mar.23).
EUR/USD capped by 1.0980
Previously, a bullish attempt lost vigour in the boundaries of 1.0980, in spite of the better-than-expected results from the IFO indicators during March, confirming the good pace of the German economy.
The pair remained apathetic following the speech by Fed’s Evans. He argued that a rate hike is not compatible with the current levels of low inflation and a sooner than expected rate hike carries more risks than a delayed one; he sees rates up during 2016.
EUR/USD important levels
The pair is now up 0.36% at 1.0964 with the next resistance at 1.1029 (high Mar.24) ahead of 1.1062 (high Mar.18) and then 1.1115 (high Mar.5). On the flip side, a breakdown of 1.0891 (low Mar.24) would open the door to 1.0886 (21-d MA) and then 1.0768 (hourly low Mar.23).