20 Jan 2015
EUR/USD clinging to 1.1600
FXStreet (Edinburgh) - The shared currency remains in the upper end of today’s range, with EUR/USD hovering over the 1.1600 neighbourhood.
EUR/USD passed the ZEW test
Auspicious results from the ZEW Survey in both Germany and the EMU gave initial support to the EUR, pushing spot to session highs around 1.1610/20. However, the current context of USD strength appears to cap any bullish attempts, relegating the pair to the 1.1600 surroundings. Next of note in the bloc will be the crucial ECB meeting on Thursday, when apparently everything points to an announce by the central bank of a QE programme worth at least €500 billion of sovereign bond purchases.
EUR/USD levels to watch
As of writing the pair is down 0.16% at 1.1590 and a break below 1.1528 (61.8% of 1.1460-1.1639) would target 1.1460 (11-year low Jan. 16) en route to 1.1445 (low Nov.11 2003) en route to 1.1376 (low Nov.7 2003). On the flip side, the initial hurdle lines up at 1.1649 (high Jan.16) followed by 1.1726 (10-d MA) and finally 1.1792 (high Jan.15).
EUR/USD passed the ZEW test
Auspicious results from the ZEW Survey in both Germany and the EMU gave initial support to the EUR, pushing spot to session highs around 1.1610/20. However, the current context of USD strength appears to cap any bullish attempts, relegating the pair to the 1.1600 surroundings. Next of note in the bloc will be the crucial ECB meeting on Thursday, when apparently everything points to an announce by the central bank of a QE programme worth at least €500 billion of sovereign bond purchases.
EUR/USD levels to watch
As of writing the pair is down 0.16% at 1.1590 and a break below 1.1528 (61.8% of 1.1460-1.1639) would target 1.1460 (11-year low Jan. 16) en route to 1.1445 (low Nov.11 2003) en route to 1.1376 (low Nov.7 2003). On the flip side, the initial hurdle lines up at 1.1649 (high Jan.16) followed by 1.1726 (10-d MA) and finally 1.1792 (high Jan.15).