18 Feb 2014
EUR/USD fades the bull attempt to 1.3740
FXStreet (Edinburgh) - The EUR/USD is trading on a firmer footing on Tuesday, although the recent upside seems to have run out of steam around 1.3740.
EUR/USD advances on risk appetite, ZEW
After the initial and brief knee-jerk post-mixed ZEW figures, spot managed to pick up pace and recover session tops in the 1.3735/40 region, although the intent stalled soon afterwards. “Over the last years, the current assessment component has become a rather good leading indicator for GDP growth. In this regards, today’s sharp increase of the current assessment component is good news for the economy. The economy should gain further momentum in the first months of the year”, observed Carsten Brzeski, Analyst at ING.
EUR/USD levels to consider
At the moment the pair is gaining 0.16% at 1.3726 with the next up barrier at 1.3740 (high Jan.24) followed by 1.3776 (2014 high Jan.2) and then 1.3800 (psychological level). On the downside, a breach of 1.3692 (daily cloud top) would aim for 1.3685 (low Feb.17) and finally 1.3674 (low Feb.14).
EUR/USD advances on risk appetite, ZEW
After the initial and brief knee-jerk post-mixed ZEW figures, spot managed to pick up pace and recover session tops in the 1.3735/40 region, although the intent stalled soon afterwards. “Over the last years, the current assessment component has become a rather good leading indicator for GDP growth. In this regards, today’s sharp increase of the current assessment component is good news for the economy. The economy should gain further momentum in the first months of the year”, observed Carsten Brzeski, Analyst at ING.
EUR/USD levels to consider
At the moment the pair is gaining 0.16% at 1.3726 with the next up barrier at 1.3740 (high Jan.24) followed by 1.3776 (2014 high Jan.2) and then 1.3800 (psychological level). On the downside, a breach of 1.3692 (daily cloud top) would aim for 1.3685 (low Feb.17) and finally 1.3674 (low Feb.14).