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Forex pairs in this Article » EUR/USD
FXStreet (Edinburgh) - After bottoming out near 1.3710, the EUR/USD is now quickly reverting the correction lower and advancing to the 1.3750 region.

EUR/USD back to positive

The pair is posting marginal gains and trading back in the mid-1.3700s region after a bout of risk aversion on rumours about a probable default in Ukraine dragged spot to the vicinity of 1.3710. In the data front, home prices gauged by the S&P/Case-Shiller index grew at an annual pace of 13.4% in December vs. 13.7% previous while Consumer Confidence retreated to 78.1 in February vs. January’s 79.4. “Bad weather, higher mortgage rates and an increasing inventory should further slow prices in the months ahead. We expect price rises to drop to single-digit numbers later in the Spring”, noted Analyst Teunis Brosens at ING Bank NV.

EUR/USD levels to watch

As of writing the pair is advancing 0.11% at 1.3749 with the next hurdle at 1.3773 (high Feb.19) followed by 1.3777 (2014 high Jan.2) and finally 1.3796 (76.4% of 1.3894-1.3477). On the flip side, a breakdown of 1.3702 (low Feb.21) would target 1.3701 (10-d MA) en route to 1.3685 (low Feb.20).
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