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16 Mar 2015
EUR/USD around 1.0550 ahead of data
FXStreet (Edinburgh) - The European currency keeps its march north on Monday, lifting EUR/USD to the mid-1.0500s.
EUR/USD firmer ahead of US data
The pair keeps inching higher albeit at a snail pace at the beginning of the week, looking to revert at least part of the recent sharp pullback that sent spot to fresh 12-year lows around 1.0460.
In the data front, the NY Empire State manufacturing index dropped to 6.9 during February, missing the median and down from January’s 7.78. Next on tap will be US Industrial Production and Capacity Utilization ahead of the NAHB index.
EUR/USD levels to consider
The pair is advancing 0.48% at 1.0547 with the next hurdle at 1.0635 (high Mar.13) ahead of 1.0683 (high Mar.12) and then 1.0718 (high Mar.11). On the flip side, a breakdown of 1.0457 (12-year low Mar.16) would expose 1.0335 (2003 low Jan.2) and then 1.0300 (psychological level).
EUR/USD firmer ahead of US data
The pair keeps inching higher albeit at a snail pace at the beginning of the week, looking to revert at least part of the recent sharp pullback that sent spot to fresh 12-year lows around 1.0460.
In the data front, the NY Empire State manufacturing index dropped to 6.9 during February, missing the median and down from January’s 7.78. Next on tap will be US Industrial Production and Capacity Utilization ahead of the NAHB index.
EUR/USD levels to consider
The pair is advancing 0.48% at 1.0547 with the next hurdle at 1.0635 (high Mar.13) ahead of 1.0683 (high Mar.12) and then 1.0718 (high Mar.11). On the flip side, a breakdown of 1.0457 (12-year low Mar.16) would expose 1.0335 (2003 low Jan.2) and then 1.0300 (psychological level).