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31 Mar 2015
EUR/USD faded the spike to 1.0780
FXStreet (Edinburgh) -The lackluster attempt to the area of 1.0780 has proved to be ephemeral so far, with EUR/USD now returning to the 1.0750/40 band.
EUR/USD keeps focusing on Greece
The recent optimism from both Greek and EU officials following the (result-less) meeting between the so-called Brussels Group and the Greek representatives were behind the bullish attempt to the 1.0780 area, although markets quickly reverted the move.
In the data space, EMU’s flash inflation figures for the month of March showed headline consumer prices contracting at an annual pace of 0.1% and Core prices rising 0.6% YoY. Previously, German unemployment rate ticked lower to 6.4% during February, bettering consensus. In the US docket, Consumer Confidence surprised investors to the upside, coming in at 101.3 in March.
EUR/USD key levels
At the moment the pair is retreating 0.94% at 1.0730 with the immediate support at 1.0700 (psychological level) followed by 1.0688 (61.8% of 1.0457-1.1062) and finally 1.0618 (low Mar.19). On the flip side, a breakout of 1.0833 (Tenkan Sen) would open the door to 1.0860 (100-h MA) and then 1.0900 (high Mar.30).
EUR/USD keeps focusing on Greece
The recent optimism from both Greek and EU officials following the (result-less) meeting between the so-called Brussels Group and the Greek representatives were behind the bullish attempt to the 1.0780 area, although markets quickly reverted the move.
In the data space, EMU’s flash inflation figures for the month of March showed headline consumer prices contracting at an annual pace of 0.1% and Core prices rising 0.6% YoY. Previously, German unemployment rate ticked lower to 6.4% during February, bettering consensus. In the US docket, Consumer Confidence surprised investors to the upside, coming in at 101.3 in March.
EUR/USD key levels
At the moment the pair is retreating 0.94% at 1.0730 with the immediate support at 1.0700 (psychological level) followed by 1.0688 (61.8% of 1.0457-1.1062) and finally 1.0618 (low Mar.19). On the flip side, a breakout of 1.0833 (Tenkan Sen) would open the door to 1.0860 (100-h MA) and then 1.0900 (high Mar.30).