Back
24 Feb 2014
EUR/USD dips to sub-1.3730
FXStreet (Edinburgh) - The EUR/USD is now deflating to session lows against the greenback, testing the lower band of the range near 1.37on Monday.
EUR/USD surrenders gains
The intraday EUR’s rally run out of legs after posting fresh highs near 1.3780 on better-than-expected IFO series from Germany in February, sparking the current correction lower soon afterwards. “After recent gains in EUR, some softening in recent data, uncertainty over Ukraine, and the possibility of another weak CPI and ECB meeting next week, EUR may be capped this week”, commented Greg Gibbs, FX Trading Strategist at RBS.
EUR/USD significant levels
At the moment the pair is down 0.05% at 1.3729 with the initial support at 1.3702 (low Feb.21) followed by 1.3685 (low Feb.20). On the upside, a breakout of 1.3777 (2014 high Jan.2) would expose 1.3800 (psychological level) and finally 1.3819 (high Dec.30).
EUR/USD surrenders gains
The intraday EUR’s rally run out of legs after posting fresh highs near 1.3780 on better-than-expected IFO series from Germany in February, sparking the current correction lower soon afterwards. “After recent gains in EUR, some softening in recent data, uncertainty over Ukraine, and the possibility of another weak CPI and ECB meeting next week, EUR may be capped this week”, commented Greg Gibbs, FX Trading Strategist at RBS.
EUR/USD significant levels
At the moment the pair is down 0.05% at 1.3729 with the initial support at 1.3702 (low Feb.21) followed by 1.3685 (low Feb.20). On the upside, a breakout of 1.3777 (2014 high Jan.2) would expose 1.3800 (psychological level) and finally 1.3819 (high Dec.30).