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13 Mar 2014
EUR/USD edges lower after upbeat US data
FXStreet (Córdoba) - The EUR/USD edged a tad lower at the begging of the American session, pulling back from 2-year highs, after data showed US jobless claims and retail sales beat consensus.
US jobless claims fell to 315,000 last week versus 320,000 expected, while February retail sales rose 0.3% versus 0.2% forecast, adding to the upbeat sentiment regarding the US economy and boosting the dollar. The EUR/USD pulled back after data but the dip has been contained by the 1.3935 area so far. At time of writing, the pair is trading at 1.3940, recording a 0.3% gain Thursday.
EUR/USD technical perspective
From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes that a break above 1.3966 (daily high) should lead to a continuation towards the key 1.4000 figure today. "If price however gives up below 1.3910, the risk turns to the downside and the pair may extend the bearish move down to 1.3850/70 price zone in the short term", the analyst says.
US jobless claims fell to 315,000 last week versus 320,000 expected, while February retail sales rose 0.3% versus 0.2% forecast, adding to the upbeat sentiment regarding the US economy and boosting the dollar. The EUR/USD pulled back after data but the dip has been contained by the 1.3935 area so far. At time of writing, the pair is trading at 1.3940, recording a 0.3% gain Thursday.
EUR/USD technical perspective
From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes that a break above 1.3966 (daily high) should lead to a continuation towards the key 1.4000 figure today. "If price however gives up below 1.3910, the risk turns to the downside and the pair may extend the bearish move down to 1.3850/70 price zone in the short term", the analyst says.