28 Apr 2014
EUR/USD finds buyers at 1.3840
FXStreet (Edinburgh) - The intraday correction in the EUR/USD seems to have found buying interest in the boundaries of 1.3840 on Monday.
EUR/USD deflates from 1.3880
The single currency kept the bid tone during the European morning although the bull run failed to break above 2-week highs at 1.3880, triggering the ongoing correction. Busy calendar ahead in the week for EUR traders, starting tomorrow with M3 Money Supply and Private Loans ahead of sentiment/confidence gauges from the industrial, services and business sectors. The German flash CPI is also due tomorrow ahead of the key EMU’s inflation figures on Wednesday. “The increasing likelihood of further ECB monetary easing is helping to dampen further euro upside potential in the near-term. Still, the euro continues to derive support from the strengthening cyclical economic recovery in the euro-zone which is likely still encouraging strong portfolio inflows into the euro-zone”, assessed analysts at BTMU.
EUR/USD levels to watch
As of writing the pair is advancing 0.11% at 1.3849 with the next resistance at 1.3906 (high Apr.11) ahead of 1.3935 (high Mar.19) and 1.3944 (high Mar.18). On the flip side, a breakdown of 1.3815 (low Apr.28) would aim for 1.3805 (21-d MA) and finally 1.3791 (low Apr.24).
EUR/USD deflates from 1.3880
The single currency kept the bid tone during the European morning although the bull run failed to break above 2-week highs at 1.3880, triggering the ongoing correction. Busy calendar ahead in the week for EUR traders, starting tomorrow with M3 Money Supply and Private Loans ahead of sentiment/confidence gauges from the industrial, services and business sectors. The German flash CPI is also due tomorrow ahead of the key EMU’s inflation figures on Wednesday. “The increasing likelihood of further ECB monetary easing is helping to dampen further euro upside potential in the near-term. Still, the euro continues to derive support from the strengthening cyclical economic recovery in the euro-zone which is likely still encouraging strong portfolio inflows into the euro-zone”, assessed analysts at BTMU.
EUR/USD levels to watch
As of writing the pair is advancing 0.11% at 1.3849 with the next resistance at 1.3906 (high Apr.11) ahead of 1.3935 (high Mar.19) and 1.3944 (high Mar.18). On the flip side, a breakdown of 1.3815 (low Apr.28) would aim for 1.3805 (21-d MA) and finally 1.3791 (low Apr.24).