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28 Feb 2014
EUR/USD through 1.3800 on EMU data
FXStreet (Edinburgh) - The single currency is rapidly appreciating against the greenback on Friday, lifting the EUR/USD beyond the critical barrier at 1.3800.
EUR/USD boosted by CPI results
The pair quickly climbed to 2-month highs above 1.3800 the figure after EMU’s consumer prices surpassed estimates at 0.8% YoY for the month of February vs. 0.7% expected and January’s 0.8%. Further data also showed that the unemployment rate stayed put at 12% during January. Buyers piled up in the wake of the positive release as the likeliness of the ECB staying on the sidelines next week has thus increased.
EUR/USD levels to watch
At the moment the pair is up 0.66% at 1.3801 with the next resistance at 1.3818 (high Dec.30) followed by 1.3832 (high Oct.25) and finally 1.3893 (high Dec.27). On the downside, a breach of 1.3656 (21-d MA) would expose 1.3643 (low Feb.27) and then 1.3642 (daily cloud base).
EUR/USD boosted by CPI results
The pair quickly climbed to 2-month highs above 1.3800 the figure after EMU’s consumer prices surpassed estimates at 0.8% YoY for the month of February vs. 0.7% expected and January’s 0.8%. Further data also showed that the unemployment rate stayed put at 12% during January. Buyers piled up in the wake of the positive release as the likeliness of the ECB staying on the sidelines next week has thus increased.
EUR/USD levels to watch
At the moment the pair is up 0.66% at 1.3801 with the next resistance at 1.3818 (high Dec.30) followed by 1.3832 (high Oct.25) and finally 1.3893 (high Dec.27). On the downside, a breach of 1.3656 (21-d MA) would expose 1.3643 (low Feb.27) and then 1.3642 (daily cloud base).