16 Jun 2014
EUR/USD attempts a recovery to 1.3530
FXStreet (Edinburgh) - After bottoming out near 1.3510, the EUR/USD is now extending the bounce to the 1.3530/35 band.
EUR/USD slightly better post-data
The pair is seeing some improvement after consumer prices in the euro region left no room for surprises in May, with headline CPI advancing 0.7% on a yearly basis and the Core print gaining 0.7% over the last twelve months. There are no further data releases or events in Euroland, with May’s US Industrial Production (0.4% exp.) and Capacity Utilization (78.8% exp.) due later. “A dovish Fed could spur a bounce, but the market seems to be inclined to sell into bounces still. This psychology may be neutralized on a move into the $1.3580-$1.3620 band. The 200-day moving average is slowing rising from the $1.3660 area”, signalled analysts at BBH.
EUR/USD key levels
As of writing the pair is losing 0.05% at 1.3532 facing the immediate support at 1.3512 (low Jun.12) ahead of 1.3503 (low Jun.5) and finally 1.3482 (low Feb.6). On the upside, a break above 1.3552 (high Jun.16) would open the door to 1.3579 (high Jun.13) and then 1.3580 (10-s MA).
EUR/USD slightly better post-data
The pair is seeing some improvement after consumer prices in the euro region left no room for surprises in May, with headline CPI advancing 0.7% on a yearly basis and the Core print gaining 0.7% over the last twelve months. There are no further data releases or events in Euroland, with May’s US Industrial Production (0.4% exp.) and Capacity Utilization (78.8% exp.) due later. “A dovish Fed could spur a bounce, but the market seems to be inclined to sell into bounces still. This psychology may be neutralized on a move into the $1.3580-$1.3620 band. The 200-day moving average is slowing rising from the $1.3660 area”, signalled analysts at BBH.
EUR/USD key levels
As of writing the pair is losing 0.05% at 1.3532 facing the immediate support at 1.3512 (low Jun.12) ahead of 1.3503 (low Jun.5) and finally 1.3482 (low Feb.6). On the upside, a break above 1.3552 (high Jun.16) would open the door to 1.3579 (high Jun.13) and then 1.3580 (10-s MA).