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16 Mar 2015
EUR/USD climbs to highs near 1.0600
FXStreet (Edinburgh) - The common currency is now accelerating its correction higher on Monday, pushing EUR/USD to the vicinity of 1.0600 the figure, or session highs.
EUR/USD firmer on US data
The pair gained further traction after US Industrial Production failed to meet expectations during February, expanding 0.1% vs. 0.2% estimated; the print however, reverted January’s 0.3% contraction. Further data showed the Capacity Utilization coming in at 78.9% from 79.1% in the previous reading.
The Housing Market index measured by NAHB is due later, with prior surveys expecting a slight improvement to 56 from 55 during the current month.
EUR/USD levels to consider
The pair is advancing 0.84% at 1.0585 with the next hurdle at 1.0635 (high Mar.13) ahead of 1.0683 (high Mar.12) and then 1.0718 (high Mar.11). On the flip side, a breakdown of 1.0457 (12-year low Mar.16) would expose 1.0335 (2003 low Jan.2) and then 1.0300 (psychological level).
EUR/USD firmer on US data
The pair gained further traction after US Industrial Production failed to meet expectations during February, expanding 0.1% vs. 0.2% estimated; the print however, reverted January’s 0.3% contraction. Further data showed the Capacity Utilization coming in at 78.9% from 79.1% in the previous reading.
The Housing Market index measured by NAHB is due later, with prior surveys expecting a slight improvement to 56 from 55 during the current month.
EUR/USD levels to consider
The pair is advancing 0.84% at 1.0585 with the next hurdle at 1.0635 (high Mar.13) ahead of 1.0683 (high Mar.12) and then 1.0718 (high Mar.11). On the flip side, a breakdown of 1.0457 (12-year low Mar.16) would expose 1.0335 (2003 low Jan.2) and then 1.0300 (psychological level).