18 Jun 2015
EUR/USD looks to stabilize above 1.1400
FXStreet (Edinburgh) - The buying interest around the euro has not given up on Thursday, with EUR/USD now keeping the upper bound of the range in the 1.1400 neighbourhood.
EUR/USD firmer on FOMC, US CPI
The pair has extended the post-FOMC buoyancy sparked on Wednesday well into today’s session, prompting bulls to return to the markets and push spot to multi-week tops beyond the 1.1400 handle.
In addition, mixed results in the US docket have once again lent support to the euro’s upside momentum, with consumer prices rising less than previously estimated during May. On the other hand, Initial Claims, the Philly Fed Manufacturing survey and CB’s Leading Indicators have all surpassed consensus.
Nothing worth mentioning on the Greek front apart from the daily plethora of rumours, while the Eurogroup meeting is under way and expected to give a statement of some sort on Greece at the end of the meeting.
EUR/USD key levels
As of writing the pair is advancing 0.80% at 1.1428 with the next resistance at 1.1437 (high Jun.18) followed by 1.1450 (high May 18) and finally 1.1486 (high Feb.6). On the flip side, a breach of 1.1330 (low Jun.18) would target 1.1277 (10-d MA) en route to 1.1206 (low Jun.17).
EUR/USD firmer on FOMC, US CPI
The pair has extended the post-FOMC buoyancy sparked on Wednesday well into today’s session, prompting bulls to return to the markets and push spot to multi-week tops beyond the 1.1400 handle.
In addition, mixed results in the US docket have once again lent support to the euro’s upside momentum, with consumer prices rising less than previously estimated during May. On the other hand, Initial Claims, the Philly Fed Manufacturing survey and CB’s Leading Indicators have all surpassed consensus.
Nothing worth mentioning on the Greek front apart from the daily plethora of rumours, while the Eurogroup meeting is under way and expected to give a statement of some sort on Greece at the end of the meeting.
EUR/USD key levels
As of writing the pair is advancing 0.80% at 1.1428 with the next resistance at 1.1437 (high Jun.18) followed by 1.1450 (high May 18) and finally 1.1486 (high Feb.6). On the flip side, a breach of 1.1330 (low Jun.18) would target 1.1277 (10-d MA) en route to 1.1206 (low Jun.17).