25 Mar 2015
EUR/USD accelerates to 1.10
FXStreet (Edinburgh) - The buying interest keeps growing bigger around the euro on Wednesday, now lifting EUR/USD to the vicinity of the key 1.10 handle.
EUR/USD up from 1.0900
After dropping to the 1.0900 neighbourhood in early trade, the pair managed to gather steam and tested the boundaries of the psychological mark at 1.10, although shedding some momentum soon afterwards.
With the German IFO already in the rear-view mirror, market participants are now focusing on the US Durable Goods Orders, with consensus expecting a monthly growth of 0.4% and 0.3% excluding Transportation.
EUR/USD important levels
The pair is now up 0.50% at 1.0979 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 up from 1.0900
After dropping to the 1.0900 neighbourhood in early trade, the pair managed to gather steam and tested the boundaries of the psychological mark at 1.10, although shedding some momentum soon afterwards.
With the German IFO already in the rear-view mirror, market participants are now focusing on the US Durable Goods Orders, with consensus expecting a monthly growth of 0.4% and 0.3% excluding Transportation.
EUR/USD important levels
The pair is now up 0.50% at 1.0979 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).