21 Mar 2014
EUR/USD capped by 1.3800
FXStreet (Edinburgh) - The key 1.3800 level still remains elusive for EUR bulls on Friday, with the EUR/USD gearing up at the 1.3790/95 area.
EUR/USD lifted by risk appetite
The pair is smiling again against a backdrop of better risk sentiment today. Spot is currently pushing to break above the 1.3800 handle, as the sedative effects from the FOMC statement are slowly dissipating. A wider EMU’s Current Account surplus during January would also be adding to the optimism. “While we cannot rule out that this week’s hawkish Fed messages could prove a turning point for EUR/USD, we do not think a massive sell-off will be seen from here in the near term”, noted Jens Pedersen, Analyst at Danske Bank.
EUR/USD levels to watch
The pair is now up 0.08% at 1.3789 with the next resistance at 1.3805 (Kijun Sen) ahead of 1.3811 (21-d MA) and then 1.3845 (high Mar.20). On the downside, a breach of 1.3749 (low Mar.20) would open the door to 1.3722 (50% of 1.3477-1.3967) and finally 1.3720 (low Mar.6).
EUR/USD lifted by risk appetite
The pair is smiling again against a backdrop of better risk sentiment today. Spot is currently pushing to break above the 1.3800 handle, as the sedative effects from the FOMC statement are slowly dissipating. A wider EMU’s Current Account surplus during January would also be adding to the optimism. “While we cannot rule out that this week’s hawkish Fed messages could prove a turning point for EUR/USD, we do not think a massive sell-off will be seen from here in the near term”, noted Jens Pedersen, Analyst at Danske Bank.
EUR/USD levels to watch
The pair is now up 0.08% at 1.3789 with the next resistance at 1.3805 (Kijun Sen) ahead of 1.3811 (21-d MA) and then 1.3845 (high Mar.20). On the downside, a breach of 1.3749 (low Mar.20) would open the door to 1.3722 (50% of 1.3477-1.3967) and finally 1.3720 (low Mar.6).