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31 Mar 2015
EUR/USD testing lows around 1.0780
FXStreet (Edinburgh) - The single currency is now accelerating its recent breach of the 1.0800 support vs. the US dollar, with EUR/USD down to the 1.0780 region.
EUR/USD weaker after German data
The greenback is prolonging its upbeat momentum in the first half of the week, now dragging spot back below the 1.0800 mark, challenging at the same time 2-week lows. The pair practically ignored the German results from retail sales, contracting 0.5% inter-month in February and expanding 3.6% over the last twelve months.
In the meantime, nothing came clear from yesterday’s press conference by Greek PM A.Tsipras following the meeting of the Brussels Group. However, discontent within the Syriza party seems to be growing bigger, adding to the generalized uncertainty surrounding the debt talks.
EUR/USD key levels
At the moment the pair is retreating 0.44% at 1.0785 with the immediate support at 1.0767 (low Mar.23) followed by 1.0760 (50% of 1.0457-1.1062) and then 1.0700 (psychological level). On the flip side, a breakout of 1.0934 (Kijun Sen) would open the door to 1.0949 (high Mar.27) and finally 1.1052 (high Mar.26).
EUR/USD weaker after German data
The greenback is prolonging its upbeat momentum in the first half of the week, now dragging spot back below the 1.0800 mark, challenging at the same time 2-week lows. The pair practically ignored the German results from retail sales, contracting 0.5% inter-month in February and expanding 3.6% over the last twelve months.
In the meantime, nothing came clear from yesterday’s press conference by Greek PM A.Tsipras following the meeting of the Brussels Group. However, discontent within the Syriza party seems to be growing bigger, adding to the generalized uncertainty surrounding the debt talks.
EUR/USD key levels
At the moment the pair is retreating 0.44% at 1.0785 with the immediate support at 1.0767 (low Mar.23) followed by 1.0760 (50% of 1.0457-1.1062) and then 1.0700 (psychological level). On the flip side, a breakout of 1.0934 (Kijun Sen) would open the door to 1.0949 (high Mar.27) and finally 1.1052 (high Mar.26).