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27 Feb 2014
EUR/USD below 1.3650
FXStreet (Edinburgh) - The EUR/USD accelerates the intraday decline now, challenging the key level at 1.3650 despite the better number from the German labour market.
EUR/USD indifferent to data releases
The pair remained muted despite the German unemployment decreased more than estimated by 14K in February and the jobless rate was unchanged at 6.8%. Further data showed the EMU’s M3 Money Supply expanded at an annual pace of 1.2% in January, bettering both forecasts (1.1%) and December’s 1.0% while Private Loans dropped 2.2% YoY. Ahed in the day, EMU’s Consumer Confidence, Economic Sentiment and Business Climate are also due.
EUR/USD levels to consider
As of writing the pair is losing 0.19% at 1.3659 and a breakdown of 1.3642 (daily cloud top) would open the door to 1.3625 (50% of 1.3477-1.3773) and then 1.3585 (low Feb.13). On the flip side, the initial hurdle aligns at 1.3719 (10-d MA) followed by 1.3757 (high Feb.26) and finally 1.3768 (high Feb.25).
EUR/USD indifferent to data releases
The pair remained muted despite the German unemployment decreased more than estimated by 14K in February and the jobless rate was unchanged at 6.8%. Further data showed the EMU’s M3 Money Supply expanded at an annual pace of 1.2% in January, bettering both forecasts (1.1%) and December’s 1.0% while Private Loans dropped 2.2% YoY. Ahed in the day, EMU’s Consumer Confidence, Economic Sentiment and Business Climate are also due.
EUR/USD levels to consider
As of writing the pair is losing 0.19% at 1.3659 and a breakdown of 1.3642 (daily cloud top) would open the door to 1.3625 (50% of 1.3477-1.3773) and then 1.3585 (low Feb.13). On the flip side, the initial hurdle aligns at 1.3719 (10-d MA) followed by 1.3757 (high Feb.26) and finally 1.3768 (high Feb.25).