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20 Feb 2014
EUR/USD wobbling around 1.3700
FXStreet (Edinburgh) - The shared currency kept the composure after the softer data from EMU’s PMI, with the EUR/USD struggling to keep the 1.3700 handle.
EUR/USD weaker after data
Despite the positive (not negative) data from Germany, spot trades amidst a selling bias in the 1.3700/1.3690 area on Thursday, with no further data releases out from the euro bloc. Next on tap will be the US docket, where CPI figures, Markit PMI, Initial Claims and the Philly index are all due. “All in all, this morning’s data from Germany should offer lots of food for thought for the ECB. The German economy is powering ahead but at the same time it does make Eurozone rebalancing any easier”, noted Carsten Brzeski, Analyst at ING Bank NV.
EUR/USD levels to watch
As of writing the pair is losing 0.24% at 1.3698 with the next support at 1.3695 (low Feb.18) ahead of 1.3685 (low Feb.17). On the upside, the initial hurdle lines up at 1.3773 (high Feb.19) followed by 1.3777 (high 2014 Jan.2) and finally 1.3796 (76.4% of 1.3894-1.3477).
EUR/USD weaker after data
Despite the positive (not negative) data from Germany, spot trades amidst a selling bias in the 1.3700/1.3690 area on Thursday, with no further data releases out from the euro bloc. Next on tap will be the US docket, where CPI figures, Markit PMI, Initial Claims and the Philly index are all due. “All in all, this morning’s data from Germany should offer lots of food for thought for the ECB. The German economy is powering ahead but at the same time it does make Eurozone rebalancing any easier”, noted Carsten Brzeski, Analyst at ING Bank NV.
EUR/USD levels to watch
As of writing the pair is losing 0.24% at 1.3698 with the next support at 1.3695 (low Feb.18) ahead of 1.3685 (low Feb.17). On the upside, the initial hurdle lines up at 1.3773 (high Feb.19) followed by 1.3777 (high 2014 Jan.2) and finally 1.3796 (76.4% of 1.3894-1.3477).