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14 May 2015
EUR/USD challenges 1.1400
FXStreet (Edinburgh) - The upside in the single currency seems to be taking a breather now, sending EUR/USD back to the 1.1400 neighbourhood.
EUR/USD a tad weaker on US data
After hitting fresh multi-month tops beyond 1.1440, the pair is now shedding some of those earlier gains and is returning to test the 1.1400 support, as the greenback is picking up pace following the auspicious results from US Initial Claims (265K).
With ‘Grimbo’ still in the back burner, the performance of the German Bunds has stepped in as the main driver for EUR-strength in the last weeks, all in combination with the disappointing results from the US economy during the first quarter.
EUR/USD levels to consider
At the moment the pair is advancing 0.35% at 1.1393 with the initial hurdle at 1.1445 (high May 14) ahead of 1.1486 (high Feb.6) and then 1.1500 (psychological level). On the downside, a break below 1.1341 (low May 14) would aim for 1.1250 (10-d MA) and finally 1.1202 (low May 13).
EUR/USD a tad weaker on US data
After hitting fresh multi-month tops beyond 1.1440, the pair is now shedding some of those earlier gains and is returning to test the 1.1400 support, as the greenback is picking up pace following the auspicious results from US Initial Claims (265K).
With ‘Grimbo’ still in the back burner, the performance of the German Bunds has stepped in as the main driver for EUR-strength in the last weeks, all in combination with the disappointing results from the US economy during the first quarter.
EUR/USD levels to consider
At the moment the pair is advancing 0.35% at 1.1393 with the initial hurdle at 1.1445 (high May 14) ahead of 1.1486 (high Feb.6) and then 1.1500 (psychological level). On the downside, a break below 1.1341 (low May 14) would aim for 1.1250 (10-d MA) and finally 1.1202 (low May 13).