21 Jan 2015
EUR/USD retraces the spike, back to 1.1570
FXStreet (Edinburgh) - The single currency has faded the spike to 1.1680 in the European evening, now taking EUR/USD back to the 1.1570 area.
EUR/USD correcting after ECB rumours
Spot quickly trimmed initial gains after media reports leaked the likeliness that the ECB could be considering monthly purchases of sovereign bonds worth €50 billion, starting in March and lasting a year. The EUR reacted accordingly, returning to levels sub-1.1600 although keeping the trade in the positive territory.
EUR/USD key levels
As of writing the pair is up 0.19% at 1.1673 with the next resistance at 1.1680 (high Jan.21) followed by 1.1694 (200-h MA) and then 1.1792 (high Jan.15). On the downside, a break below 1.1530 (low Jan.19) would target 1.1528 (61.8% of 1.1460-1.1639) en route to 1.1460 (11-year low Jan.16).
EUR/USD correcting after ECB rumours
Spot quickly trimmed initial gains after media reports leaked the likeliness that the ECB could be considering monthly purchases of sovereign bonds worth €50 billion, starting in March and lasting a year. The EUR reacted accordingly, returning to levels sub-1.1600 although keeping the trade in the positive territory.
EUR/USD key levels
As of writing the pair is up 0.19% at 1.1673 with the next resistance at 1.1680 (high Jan.21) followed by 1.1694 (200-h MA) and then 1.1792 (high Jan.15). On the downside, a break below 1.1530 (low Jan.19) would target 1.1528 (61.8% of 1.1460-1.1639) en route to 1.1460 (11-year low Jan.16).