16 Jan 2015
EUR/USD remains in sub-1.1600
FXStreet (Edinburgh) - The single currency is extending its downbeat momentum on Thursday, dragging EUR/USD back to the 1.1590/80 band.
EUR/USD focus on US docket
The pair is still sedated by the SNB-induced decline on Thursday and remains unable to find any excuse to recover the ground lost. Toda’s initial gains were quickly eroded as the US dollar resumed its upside, relegating spot to meander below the 1.1600 mark. In the data front, both German and EMU inflation figures were far from surprising markets, meeting prior surveys. In the US docket, CPI figures, Industrial Production and the Reuters/Michigan index will be the highlights for today.
EUR/USD key levels
At the moment the pair is losing 0.29% at 1.1584 and a breach of 1.1568 (2015 low Jan.15) would aim for 1.1505 (low Nov.12 2003) and then 1.1445 (low Nov.11 2003). On the flip side, the initial barrier lines up at 1.1647 (hourly high Jan.16) followed by 1.1792 (high Jan.15) and finally 1.1805 (200-h MA).
EUR/USD focus on US docket
The pair is still sedated by the SNB-induced decline on Thursday and remains unable to find any excuse to recover the ground lost. Toda’s initial gains were quickly eroded as the US dollar resumed its upside, relegating spot to meander below the 1.1600 mark. In the data front, both German and EMU inflation figures were far from surprising markets, meeting prior surveys. In the US docket, CPI figures, Industrial Production and the Reuters/Michigan index will be the highlights for today.
EUR/USD key levels
At the moment the pair is losing 0.29% at 1.1584 and a breach of 1.1568 (2015 low Jan.15) would aim for 1.1505 (low Nov.12 2003) and then 1.1445 (low Nov.11 2003). On the flip side, the initial barrier lines up at 1.1647 (hourly high Jan.16) followed by 1.1792 (high Jan.15) and finally 1.1805 (200-h MA).