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22 Jan 2015
EUR/USD looks to regain 1.1400
FXStreet (Edinburgh) - After bottoming out in the 1.1360 area, EUR/USD is now attempting to retake the 1.1400 handle.
EUR/USD weaker post-ECB
The single currency is navigating levels last traded in early September 2003 in the mid/upper-1.1300s, in response to the large-scale bond-buying programme announced by the European Central Bank in today’s meeting. It is worth recalling that President Draghi confirmed that the central bank will buy covered bonds and ABS at a monthly pace of €60 billion, starting in March and lasting until September 2016, or until inflation expectations push consumer prices towards the ECB’s 2% target.
Well, life in Euroland goes on, and tomorrow’s docket will bring in the preliminary gauges of manufacturing and services PMIs as the main highlight.
EUR/USD levels to consider
At the moment the pair is retreating 1.82% at 1.1376 and a breakdown of 1.1368 (low Jan.22) would aim for 1.1300 (psychological level) and then 1.1238 (low Sep.19 2003). On the upside, the immediate hurdle lines up at 1.1432 (hourly high Jan.22) ahead of 1.1491 (hourly high Jan.22) and finally 1.1566 (hourly high Jan.22).
EUR/USD weaker post-ECB
The single currency is navigating levels last traded in early September 2003 in the mid/upper-1.1300s, in response to the large-scale bond-buying programme announced by the European Central Bank in today’s meeting. It is worth recalling that President Draghi confirmed that the central bank will buy covered bonds and ABS at a monthly pace of €60 billion, starting in March and lasting until September 2016, or until inflation expectations push consumer prices towards the ECB’s 2% target.
Well, life in Euroland goes on, and tomorrow’s docket will bring in the preliminary gauges of manufacturing and services PMIs as the main highlight.
EUR/USD levels to consider
At the moment the pair is retreating 1.82% at 1.1376 and a breakdown of 1.1368 (low Jan.22) would aim for 1.1300 (psychological level) and then 1.1238 (low Sep.19 2003). On the upside, the immediate hurdle lines up at 1.1432 (hourly high Jan.22) ahead of 1.1491 (hourly high Jan.22) and finally 1.1566 (hourly high Jan.22).