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11 Jun 2014
EUR/USD climbs near 1.3560
FXStreet (Edinburgh) - A bout of risk appetite is now pushing the EUR/USD back to the proximity of 1.3560, posting fresh session highs at the same time.
EUR/USD supported by 1.3520
Spot found decent support in the 1.3525/20 area on Wednesday against the backdrop of no data releases or significant events in the euro area. A second-tier US docket will also leave the pair to the mercy of the risk trends, with only the Monthly Budget Statement due in the European evening. “The anticipated down-move in EUR was much deeper than expected with a low 1.3534. The downward momentum is picking up rapidly and further down-move towards the strong support at 1.3500/05 (last Friday’s low) is likely for today. Only a move above 1.3585 would indicate that a temporary low is in place”, remarks Quek Ser Leang, Market Strategist at UOB Group.
EUR/USD key levels
At the moment the pair is up 0.02% at 1.3550 with the next hurdle at 1.3602 (high Jun.10) ahead of 1.3604 (10-d MA) and finally 1.3639 (21-d MA). On the other hand, a breakdown of 1.3522 (low Jun.11) would expose 1.3503 (low Jun.5) and then 1.3482 (low Feb.6).
EUR/USD supported by 1.3520
Spot found decent support in the 1.3525/20 area on Wednesday against the backdrop of no data releases or significant events in the euro area. A second-tier US docket will also leave the pair to the mercy of the risk trends, with only the Monthly Budget Statement due in the European evening. “The anticipated down-move in EUR was much deeper than expected with a low 1.3534. The downward momentum is picking up rapidly and further down-move towards the strong support at 1.3500/05 (last Friday’s low) is likely for today. Only a move above 1.3585 would indicate that a temporary low is in place”, remarks Quek Ser Leang, Market Strategist at UOB Group.
EUR/USD key levels
At the moment the pair is up 0.02% at 1.3550 with the next hurdle at 1.3602 (high Jun.10) ahead of 1.3604 (10-d MA) and finally 1.3639 (21-d MA). On the other hand, a breakdown of 1.3522 (low Jun.11) would expose 1.3503 (low Jun.5) and then 1.3482 (low Feb.6).