8 Apr 2014
EUR/USD breaks above 1.3760
FXStreet (Edinburgh) - The shared currency is now accelerating its upside vs. the greenback, lifting the EUR/USD beyond 1.3760.
EUR/USD remains firm above 1.3700
The pair is now prolonging its correction higher, recovering at the same time from troughs post-Payrolls posted on Friday and on its way to test last week’s peaks beyond 1.3800. In the data space, the French trade deficit narrowed to €3.4 billion in February from €5.3 billion in the previous month. “The euro is likely to remain strong without more effective ECB monetary policy easing actions being delivered, with the negative impact of QE rhetoric upon the euro already beginning to ease”, commented Lee Hardman, Currency Analyst at BTMU.
EUR/USD relevant levels
At the moment the pair is advancing 0.17% at 1.3765 with the immediate resistance at 1.3785 (76.4% of 1.3820-1/3672) followed by 1.3808 (high Apr.3) and finally 1/3815 (21-d MA). On the flip side, a breakdown of 1.3695 (100-d MA) would open the door to 1.3693 (21-w MA) and then 1.3692 (daily cloud top).
EUR/USD remains firm above 1.3700
The pair is now prolonging its correction higher, recovering at the same time from troughs post-Payrolls posted on Friday and on its way to test last week’s peaks beyond 1.3800. In the data space, the French trade deficit narrowed to €3.4 billion in February from €5.3 billion in the previous month. “The euro is likely to remain strong without more effective ECB monetary policy easing actions being delivered, with the negative impact of QE rhetoric upon the euro already beginning to ease”, commented Lee Hardman, Currency Analyst at BTMU.
EUR/USD relevant levels
At the moment the pair is advancing 0.17% at 1.3765 with the immediate resistance at 1.3785 (76.4% of 1.3820-1/3672) followed by 1.3808 (high Apr.3) and finally 1/3815 (21-d MA). On the flip side, a breakdown of 1.3695 (100-d MA) would open the door to 1.3693 (21-w MA) and then 1.3692 (daily cloud top).