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26 Feb 2015
EUR/USD drops to lows near 1.1310
FXStreet (Edinburgh) - The single currency is now intensifying its downside vs. the greenback, sending EUR/USD to test daily lows around 1.1315/10.
EUR/USD focus on US data
The pair is rapidly retracing its previous spike to the 1.1380 area after EMU data surprised investors to the upside, joining the upbeat results from the German labour market.
Next of relevance for the pair will be the US inflation figures tracked by the CPI, with headline prices expected to have contracted 0.1% YoY during January. Further releases will see Durable Goods Orders and Initial Claims.
EUR/USD levels to consider
As of writing the pair is losing 0.39% at 1.1319 with the next support at 1.1278 (low Feb.20) followed by 1.1270 (low Feb.9) and ahead of 1.1262 (low Jan.29). On the flip side, a break above 1.1390 (high Feb.25) would open the door to 1.1450 (high Feb.19) and finally 1.1486 (high Feb.6).
EUR/USD focus on US data
The pair is rapidly retracing its previous spike to the 1.1380 area after EMU data surprised investors to the upside, joining the upbeat results from the German labour market.
Next of relevance for the pair will be the US inflation figures tracked by the CPI, with headline prices expected to have contracted 0.1% YoY during January. Further releases will see Durable Goods Orders and Initial Claims.
EUR/USD levels to consider
As of writing the pair is losing 0.39% at 1.1319 with the next support at 1.1278 (low Feb.20) followed by 1.1270 (low Feb.9) and ahead of 1.1262 (low Jan.29). On the flip side, a break above 1.1390 (high Feb.25) would open the door to 1.1450 (high Feb.19) and finally 1.1486 (high Feb.6).