11 Apr 2014
EUR/USD testing lows at 1.3880
FXStreet (Barcelona) - The single currency is now back to the negative territory on Friday, with the EUR/USD deflating from session tops above the 1.3900 handle.
EUR/USD remains well bid
The pair is trading in 3-week highs around the upper 1.3800s, mostly recovering the sharp sell-off after the hawkish tone from the FOMC meeting in mid-March. The bid sentiment around the EUR has accelerated this week on the back of the recent ECB inaction and allaying rumours of QE in the euro area. “The euro continues to grind higher with real yields and substantial current account surplus flows helping to support the euro with the ECB reluctant to take easing measures”, noted Derek Halpenny, Head of Global Markets Research at BTMU.
EUR/USD key levels
The pair is now up 0.04% at 1.3893 with the next resistance at 1.3967 (2014 high Mar.13) followed by 1.4000 (psychological level) and then 1.4172 (high Oct.31 2011). On the flip side, a breakdown of 1.3846 (low Mar.13) would target 1.3843 (low Mar.12) en route to 1.3834 (low Mar.11).
EUR/USD remains well bid
The pair is trading in 3-week highs around the upper 1.3800s, mostly recovering the sharp sell-off after the hawkish tone from the FOMC meeting in mid-March. The bid sentiment around the EUR has accelerated this week on the back of the recent ECB inaction and allaying rumours of QE in the euro area. “The euro continues to grind higher with real yields and substantial current account surplus flows helping to support the euro with the ECB reluctant to take easing measures”, noted Derek Halpenny, Head of Global Markets Research at BTMU.
EUR/USD key levels
The pair is now up 0.04% at 1.3893 with the next resistance at 1.3967 (2014 high Mar.13) followed by 1.4000 (psychological level) and then 1.4172 (high Oct.31 2011). On the flip side, a breakdown of 1.3846 (low Mar.13) would target 1.3843 (low Mar.12) en route to 1.3834 (low Mar.11).