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25 Feb 2014
EUR/USD keeps 1.3750
FXStreet (Edinburgh) - The single currency remains around 1.3750 against the USD on Tuesday, with the EUR/USD now attempting to consolidate in these levels.
EUR/USD focus on EC
The next big event facing the EUR will be the economic growth forecasts published by the European Commission, ahead of the US docket. Across the pond, housing prices gauged by the S&P/Case-Shiller index and the Consumer Sentiment will be in the limelight. Earlier on in the European morning, GDP figures in Germany matched expectations, expanding 0.4% inter-quarter and Italian retail sales contracted 0.3% MoM in December. “. EUR/USD is in its range, and unless it breaks 1.3640-1.3840 probably best viewed as such. There is no change to long-term views, and little news to move it today, with German data as expected, US house prices and consumer confidence likely to be ignored”, noted Kit Juckes, Strategist at Societe Generale.
EUR/USD levels to watch
As of writing the pair is advancing 0.11% at 1.3749 with the next hurdle at 1.3773 (high Feb.19) followed by 1.3777 (2014 high Jan.2) and finally 1.3796 (76.4% of 1.3894-1.3477). On the flip side, a breakdown of 1.3702 (low Feb.21) would target 1.3701 (10-d MA) en route to 1.3685 (low Feb.20).
EUR/USD focus on EC
The next big event facing the EUR will be the economic growth forecasts published by the European Commission, ahead of the US docket. Across the pond, housing prices gauged by the S&P/Case-Shiller index and the Consumer Sentiment will be in the limelight. Earlier on in the European morning, GDP figures in Germany matched expectations, expanding 0.4% inter-quarter and Italian retail sales contracted 0.3% MoM in December. “. EUR/USD is in its range, and unless it breaks 1.3640-1.3840 probably best viewed as such. There is no change to long-term views, and little news to move it today, with German data as expected, US house prices and consumer confidence likely to be ignored”, noted Kit Juckes, Strategist at Societe Generale.
EUR/USD levels to watch
As of writing the pair is advancing 0.11% at 1.3749 with the next hurdle at 1.3773 (high Feb.19) followed by 1.3777 (2014 high Jan.2) and finally 1.3796 (76.4% of 1.3894-1.3477). On the flip side, a breakdown of 1.3702 (low Feb.21) would target 1.3701 (10-d MA) en route to 1.3685 (low Feb.20).