EUR/USD in fresh highs near 1.3630

By FXstreet.com | June 24, 2014 AAA

FXStreet (Edinburgh) - The single currency continues to push higher on Tuesday, lifting the EUR/USD to fresh intraday highs near 1.3630.



EUR/USD stronger despite IFO



The EUR remains resilient at the beginning of the week, keeping the trade above the 1.3600 handle and largely bypassing the disappointment from the IFO series. Market participants will now focus their attention on the US docket, where the S&P-Case/Shiller index (11.6% exp.) and Consumer Confidence (83.5 exp.) will be the most relevant releases. “Oil prices complicate the outlook for EUR, as rising oil prices will add to inflationary pressures, which should ease the disinflation burden faced by the ECB but complicate the growth outlook further. We hold a year-end 1.30 EUR forecast”, observed Camilla Sutton, Chief FX Strategist at Scotiabank.



EUR/USD levels to consider



The pair is now advancing 0.12% en 1.3622 with the next resistance at 1.3634 (high Jun.20) ahead of 1.3644 (high Jun.19) and finally 1.3669 (high Jun.9). On the downside, a breach of 1.3565 (low Jun.20) would open the door to 1.3542 (low Jun.18) and then 1.3536 (low Jun.17).



comments powered by Disqus
Related Forex Analysis
  1. Trading Video: Gauging the Dominant Dollar, Yen and S&P 500 Trends
    Forex News

    Trading Video: Gauging the Dominant Dollar, Yen and S&P 500 Trends

  2. Strategy Video: The Process of Trend Reversals
    Forex News

    Strategy Video: The Process of Trend Reversals

  3. Session Recap: JPY retreats as risk appetite improves
    Forex News

    Session Recap: JPY retreats as risk appetite improves

  4. Russia Announces FX Repo: USD/RUB Finds Support in Bullish Channel
    Forex News

    Russia Announces FX Repo: USD/RUB Finds Support in Bullish Channel

  5. NZDUSD Next Leg Lower Around the Corner?
    Forex News

    NZDUSD Next Leg Lower Around the Corner?

Trading Center