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26 Feb 2015
EUR/USD hits 1.1380 on EMU data
FXStreet (Edinburgh) - The shared currency is now extending its upside after releases in the EMU, with EUR/USD posting fresh highs near 1.1380.
EUR/USD closer to 1.1400
The pair accelerates its momentum despite the mixed data from the euro area, with only Economic Sentiment surpassing expectations for the present month at 102.1; Consumer Confidence came in at -6.7, matching estimates, while Business Climate, Services Sentiment and Industrial Confidence missed the median during the same period.
In addition, Business Confidence and Consumer Confidence in Italy improved to 99.1 and 110.9, respectively for the current month. Previous data showed the unemployment change in Germany decreased by 20K in February with the jobless rate unchanged at 6.5%.
EUR/USD levels to consider
As of writing the pair is up 0.04% at 1.1370 with the initial hurdle at 1.1390 (high Feb.25) ahead of 1.1450 (high Feb.19) and then 1.1486 (high Feb.6). On the downside, a break below 1.1278 (low Feb.20) would target 1.1270 (low Feb.9) en route to 1.1262 (low Jan.29).
EUR/USD closer to 1.1400
The pair accelerates its momentum despite the mixed data from the euro area, with only Economic Sentiment surpassing expectations for the present month at 102.1; Consumer Confidence came in at -6.7, matching estimates, while Business Climate, Services Sentiment and Industrial Confidence missed the median during the same period.
In addition, Business Confidence and Consumer Confidence in Italy improved to 99.1 and 110.9, respectively for the current month. Previous data showed the unemployment change in Germany decreased by 20K in February with the jobless rate unchanged at 6.5%.
EUR/USD levels to consider
As of writing the pair is up 0.04% at 1.1370 with the initial hurdle at 1.1390 (high Feb.25) ahead of 1.1450 (high Feb.19) and then 1.1486 (high Feb.6). On the downside, a break below 1.1278 (low Feb.20) would target 1.1270 (low Feb.9) en route to 1.1262 (low Jan.29).