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14 Apr 2015
EUR/USD technicals supporting additional gains – FXStreet
FXStreet (Barcelona) - EUR/USD climbs higher after US retail sales missed expectations, with technicals supporting additional gains towards 1.0690, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
“The EUR/USD pair trades in quite a thin range around the 1.0550 area, as the market waits for the ECB economic policy meeting this Wednesday.”
“Earlier in the day, local data resulted mild weak, with German wholesale prices down by 1.1% in March, yearly basis, and Spain inflation still negative.”
“In the US, Retail Sales missed expectations, up 0.9% in March against 1.1% expected, while Producer price indexes came out as expected, triggering a dollar bearish run across the board.”
“Technically, the EUR/USD 1 hour chart shows that the price advances above a flat 20 SMA and extends above the 1.0600 figure, whilst the technical indicators head strongly up above their mid-lines.”
“In the 4 hours chart, the price advances above a bearish 20 SMA, while the technical indicators gain upward momentum above their mid-lines, supporting additional advances, up to 1.0690, the 61.8% retracement of its latest bullish daily run.”
“Support levels: 1.0600 1.0550 1.0520”
“Resistance levels: 1.0690 1.0720 1.0755”
Key Quotes
“The EUR/USD pair trades in quite a thin range around the 1.0550 area, as the market waits for the ECB economic policy meeting this Wednesday.”
“Earlier in the day, local data resulted mild weak, with German wholesale prices down by 1.1% in March, yearly basis, and Spain inflation still negative.”
“In the US, Retail Sales missed expectations, up 0.9% in March against 1.1% expected, while Producer price indexes came out as expected, triggering a dollar bearish run across the board.”
“Technically, the EUR/USD 1 hour chart shows that the price advances above a flat 20 SMA and extends above the 1.0600 figure, whilst the technical indicators head strongly up above their mid-lines.”
“In the 4 hours chart, the price advances above a bearish 20 SMA, while the technical indicators gain upward momentum above their mid-lines, supporting additional advances, up to 1.0690, the 61.8% retracement of its latest bullish daily run.”
“Support levels: 1.0600 1.0550 1.0520”
“Resistance levels: 1.0690 1.0720 1.0755”