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15 Jan 2015
EUR/USD attempts a recovery at 1.1780
FXStreet (Edinburgh) - The European currency left the area of session lows near 1.1760 and is now pushing EUR/USD to test the 1.1780 region, always keeping the trade within a tight range.
EUR/USD muted after data
Inflation figures in Spain are out, showing a yearly contraction of 1.0%, bettering calls for a 1.1% drop albeit lower than November’s 0.4% decline. The figures confirm once again the disinflationary trend in the euro region remain well and sound, and adds to the probable case of ECB’s quantitative easing to be implemented sooner rather than later. Next of note will be the German Real GDP Growth (1.5% exp.) ahead of J.Weidmann speech during the afternoon in Europe.
EUR/USD key levels
At the moment the pair is down 0.14% at 1.1773 with the next support at 1.1728 (9-year low Jan.14) ahead of 1.1640 (low Nov. 2005) and then 1.1376 (low Nov. 2003). On the upside, a breakout of 1.1839 (200-h MA) would expose 1.1845 (10-d MA) and finally 1.1871 (high Jan.12).
EUR/USD muted after data
Inflation figures in Spain are out, showing a yearly contraction of 1.0%, bettering calls for a 1.1% drop albeit lower than November’s 0.4% decline. The figures confirm once again the disinflationary trend in the euro region remain well and sound, and adds to the probable case of ECB’s quantitative easing to be implemented sooner rather than later. Next of note will be the German Real GDP Growth (1.5% exp.) ahead of J.Weidmann speech during the afternoon in Europe.
EUR/USD key levels
At the moment the pair is down 0.14% at 1.1773 with the next support at 1.1728 (9-year low Jan.14) ahead of 1.1640 (low Nov. 2005) and then 1.1376 (low Nov. 2003). On the upside, a breakout of 1.1839 (200-h MA) would expose 1.1845 (10-d MA) and finally 1.1871 (high Jan.12).