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25 Feb 2015
EUR/USD keeps correcting lower
FXStreet (Edinburgh) - The shared currency is retracing the previous spike to the 1.1390 area, with EUR/USD currently hovering over the mid-1.1300s.
EUR/USD eroding initial gains
The pair lost part of the initial upbeat tone today, as the buying interest in the greenback now seems to be waking up. While market participants have almost digested the dovish appreciations from Chairwoman J.Yellen on Tuesday, today’s second appearance of the Head of the Federal Reserve could not attract the same attention.
In the meantime, President Draghi is expected to speak at the European Parliament ahead of US New Home Sales (0.470M exp. in January).
EUR/USD levels to consider
As of writing the pair is up 0.10% at 1.1354 with the initial hurdle at 1.1400 (psychological level) ahead of 1.1430 (high Feb.20) followed by 1.1450 (high Feb.19). On the downside, a break below 1.1288 (low Feb.24) would target 1.1278 (low Feb.20) en route to 1.1270 (low Feb.9).
EUR/USD eroding initial gains
The pair lost part of the initial upbeat tone today, as the buying interest in the greenback now seems to be waking up. While market participants have almost digested the dovish appreciations from Chairwoman J.Yellen on Tuesday, today’s second appearance of the Head of the Federal Reserve could not attract the same attention.
In the meantime, President Draghi is expected to speak at the European Parliament ahead of US New Home Sales (0.470M exp. in January).
EUR/USD levels to consider
As of writing the pair is up 0.10% at 1.1354 with the initial hurdle at 1.1400 (psychological level) ahead of 1.1430 (high Feb.20) followed by 1.1450 (high Feb.19). On the downside, a break below 1.1288 (low Feb.24) would target 1.1278 (low Feb.20) en route to 1.1270 (low Feb.9).