Back
15 Jan 2015
EUR/USD shows signs of life at 1.1630
FXStreet (Edinburgh) - It’s alive! EUR/USD left the area below 1.1600 and is now reclaiming the 1.1630 region.
EUR/USD vulnerable, focus on EMU data
The euro is still trying to wake up after the SNB-induced sharp sell off that dragged spot to the area of 1.1570. Looking to tomorrow’s calendar in the euro bloc, EMU’s consumer prices appear as a tough test, as consensus expects the CPI to confirm the descending trend in prices, all in light of next week’s ECB meeting.
Camilla Sutton, Chief FX Strategist at Scotiabank, argued, “technical studies are bearish, all calling for further downside, even as the RSI flirts with oversold levels. Support lies at the fresh lows of 1.1575, with 1.1640 still providing some limited support; resistance comes in at today’s open of 1.1789
EUR/USD key levels
At the moment the pair is down 1.52% at 1.1609 with the next support at 1.1580 (2015 low Jan.15) ahead of 1.1376 (low Nov. 2003) and then 1.1212 (61.8% of 0.8228-1.6040). On the upside, a breakout of 1.1792 (high Jan.15) would open the door to 1.1845 (10-d MA) and finally 1.1871 (high Jan.12).
EUR/USD vulnerable, focus on EMU data
The euro is still trying to wake up after the SNB-induced sharp sell off that dragged spot to the area of 1.1570. Looking to tomorrow’s calendar in the euro bloc, EMU’s consumer prices appear as a tough test, as consensus expects the CPI to confirm the descending trend in prices, all in light of next week’s ECB meeting.
Camilla Sutton, Chief FX Strategist at Scotiabank, argued, “technical studies are bearish, all calling for further downside, even as the RSI flirts with oversold levels. Support lies at the fresh lows of 1.1575, with 1.1640 still providing some limited support; resistance comes in at today’s open of 1.1789
EUR/USD key levels
At the moment the pair is down 1.52% at 1.1609 with the next support at 1.1580 (2015 low Jan.15) ahead of 1.1376 (low Nov. 2003) and then 1.1212 (61.8% of 0.8228-1.6040). On the upside, a breakout of 1.1792 (high Jan.15) would open the door to 1.1845 (10-d MA) and finally 1.1871 (high Jan.12).