25 Mar 2014
EUR/USD tests highs beyond 1.3840
FXStreet (Edinburgh) - The EUR managed to bounce off the mid-1.37s vs. the greenback on Tuesday, pushing the EUR/USD back to the 1.3840/45 area.
EUR/USD back to gains
The pair is now wobbling between gains and losses, returning from session troughs near 1.3750 to the area of intraday peaks around 1.3840. There was not much in the euro docket today, with the German IFO coming in mixed. Carsten Brzeski, Analyst at ING Bank NV, commented “All in all, today’s Ifo index sends two messages: the German economy has again entered the fast lane in the first quarter but continuing the ride at maximum speed will not be an easy task”.
EUR/USD levels to watch
The pair is now losing 0.09% at 1.3826 with the next support at 1.3760 (low Mar.24) and then 1.3749 (low Mar.20). On the flip side, a break above 1.3877 (high Mar.24) would target 1.3935 (high Mar.19) en route to 1.3944 (high Mar.18).
EUR/USD back to gains
The pair is now wobbling between gains and losses, returning from session troughs near 1.3750 to the area of intraday peaks around 1.3840. There was not much in the euro docket today, with the German IFO coming in mixed. Carsten Brzeski, Analyst at ING Bank NV, commented “All in all, today’s Ifo index sends two messages: the German economy has again entered the fast lane in the first quarter but continuing the ride at maximum speed will not be an easy task”.
EUR/USD levels to watch
The pair is now losing 0.09% at 1.3826 with the next support at 1.3760 (low Mar.24) and then 1.3749 (low Mar.20). On the flip side, a break above 1.3877 (high Mar.24) would target 1.3935 (high Mar.19) en route to 1.3944 (high Mar.18).