13 Jan 2015
EUR/USD supported around 1.1820
FXStreet (Edinburgh) - After climbing to 1.1860 overnight, EUR/USD lost some vigour and retreated towards the 1.1820 area, where it seems to have found some buying interest.
EUR/USD remains in a narrow range
With the recent US jobs data in the rear mirror, market participants turned their attention back to the ECB and the chances of implementing some sort of QE in the short/medium term, leaving spot meandering around the mid-1.1800s so far. In the risk-associated space, Chinese data during December showed the trade surplus shrunk to $49.10 billion, below estimates at $49.85 billion and down from November’s $54.50 billion, despite an almost 10% increase in exports. Nothing interesting in the euro area data wise, while all the attention will be in the UK inflation figures during the European morning.
EUR/USD levels to watch
At the moment the pair is losing 0.05% at 1.1831 with the next support at 1.1754 (2015 low Jan.8) followed by 1.1640 (low Nov. 2005) and then 1.1376 (low Nov.2003). On the upside, a break above 1.1871 (high Jan.12) would expose 1.1897 (high Jan.7) and finally 1.1916 (10d MA).
EUR/USD remains in a narrow range
With the recent US jobs data in the rear mirror, market participants turned their attention back to the ECB and the chances of implementing some sort of QE in the short/medium term, leaving spot meandering around the mid-1.1800s so far. In the risk-associated space, Chinese data during December showed the trade surplus shrunk to $49.10 billion, below estimates at $49.85 billion and down from November’s $54.50 billion, despite an almost 10% increase in exports. Nothing interesting in the euro area data wise, while all the attention will be in the UK inflation figures during the European morning.
EUR/USD levels to watch
At the moment the pair is losing 0.05% at 1.1831 with the next support at 1.1754 (2015 low Jan.8) followed by 1.1640 (low Nov. 2005) and then 1.1376 (low Nov.2003). On the upside, a break above 1.1871 (high Jan.12) would expose 1.1897 (high Jan.7) and finally 1.1916 (10d MA).