19 Jun 2014
EUR/USD deflates from highs
FXStreet (Edinburgh) - The single currency is now surrendering initial gains, dragging the EUR/USD back to the area of 1.3625/20 so far.
EUR/USD eyes on US docket
Absent data releases in Euroland today, the focus for EUR traders will be on the weekly performance of the Initial Claims (314K exp.) and the CB Leading Indicator (0.6% exp. in May) in the US economy; over the weekend the EcoFin meeting will be on the spotlight. “EUR is likely somewhat range bund between 1.3500 and 1.3740. However the combination of the Fed’s stance, rising oil prices, which should support Eurozone inflation and flows, are likely temporarily limiting EUR downside. We have a quarter end target of 1.37 and a year-end target of 1.30”, observed Camilla Sutton, Chief FX Strategist at Scotiabank.
EUR/USD levels to watch
The pair is now up 0.17% at 1.3618 with the next hurdle at 1.3665 (200-d MA) followed by 1.3669 (high Jun.9) and finally 1.3677 (high Jun.6). On the flip side, a break below 1.3576 (10-d MA) would open the door to 1.3542 (low Jun.18) and then 1.3536 (low Jun.17).
EUR/USD eyes on US docket
Absent data releases in Euroland today, the focus for EUR traders will be on the weekly performance of the Initial Claims (314K exp.) and the CB Leading Indicator (0.6% exp. in May) in the US economy; over the weekend the EcoFin meeting will be on the spotlight. “EUR is likely somewhat range bund between 1.3500 and 1.3740. However the combination of the Fed’s stance, rising oil prices, which should support Eurozone inflation and flows, are likely temporarily limiting EUR downside. We have a quarter end target of 1.37 and a year-end target of 1.30”, observed Camilla Sutton, Chief FX Strategist at Scotiabank.
EUR/USD levels to watch
The pair is now up 0.17% at 1.3618 with the next hurdle at 1.3665 (200-d MA) followed by 1.3669 (high Jun.9) and finally 1.3677 (high Jun.6). On the flip side, a break below 1.3576 (10-d MA) would open the door to 1.3542 (low Jun.18) and then 1.3536 (low Jun.17).