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28 Mar 2014
EUR/USD consolidates around 1.3750
FXStreet (Edinburgh) - The single currency is now attempting to consolidate in the mid-1.3700s, with the EUR/USD around 1.3755/50.
EUR/USD focus on EMU’s CPI
With the German inflation figures in the rear mirror (softer than expected), traders are now focusing on EMU’s consumer prices due on Monday. Market consensus expects prices in the region to have expanded at an annual pace of 0.6% in March, down from 0.7%. “We doubt the ECB is ready to act just yet but weak inflation trends will underscore the central bank’s sensitivity to the EUR’s level for investors and load some further negative weight to the currency”, commented Shaun Osborne, Chief FX Strategist at TD Securities.
EUR/USD relevant levels
At the moment the pair is up 0.09% at 1.3752 and a break above 1.3797 (high Mar.27) would open the door to 1.3825 (21-d MA) and finally 1.3827 (high Mar.26). On the downside, the immediate support lines up at 1.3704 (low Mar.8) followed by 1.3694 (low Feb.28) ahead of 1.3685 9daily cloud top).
EUR/USD focus on EMU’s CPI
With the German inflation figures in the rear mirror (softer than expected), traders are now focusing on EMU’s consumer prices due on Monday. Market consensus expects prices in the region to have expanded at an annual pace of 0.6% in March, down from 0.7%. “We doubt the ECB is ready to act just yet but weak inflation trends will underscore the central bank’s sensitivity to the EUR’s level for investors and load some further negative weight to the currency”, commented Shaun Osborne, Chief FX Strategist at TD Securities.
EUR/USD relevant levels
At the moment the pair is up 0.09% at 1.3752 and a break above 1.3797 (high Mar.27) would open the door to 1.3825 (21-d MA) and finally 1.3827 (high Mar.26). On the downside, the immediate support lines up at 1.3704 (low Mar.8) followed by 1.3694 (low Feb.28) ahead of 1.3685 9daily cloud top).