Back
9 Feb 2015
EUR/USD deflates to 1.1310
FXStreet (Edinburgh) - The offered tone is now returning to the common currency, dragging EUR/USD to the lower bound of the range near 1.1310.
EUR/USD down from 1.1360
The pair left the area of session highs around 1.1360, following the negative events coming from Greece, where markets keep plummeting led by the banking sector. In the same direction, rumours about the country leaving the euro region continue to build up, heavily weighing on the sentiment and spreading the pessimism over the rest of the markets in Euroland.
On the bright side, Investor Confidence gauged by the Sentix index climbed to 12.4 in February, reaching the highest level since February 2006. In addition, German trade surplus came in at €21.5 billion in December, bettering both consensus and the previous reading.
EUR/USD levels to watch
As of writing the pair is down 0.02% at 1.1317 and a break below 1.1280 (low Feb.2) would open the door to 1.1265 (61.8% of 1.1098-1.1534) and then 1.1224 (low Jan.27). On the other hand, the immediate support aligns at 1.1362 (200h-MA) followed by 1.1400 (psychological level) and finally 1.1463 (21-d MA).
EUR/USD down from 1.1360
The pair left the area of session highs around 1.1360, following the negative events coming from Greece, where markets keep plummeting led by the banking sector. In the same direction, rumours about the country leaving the euro region continue to build up, heavily weighing on the sentiment and spreading the pessimism over the rest of the markets in Euroland.
On the bright side, Investor Confidence gauged by the Sentix index climbed to 12.4 in February, reaching the highest level since February 2006. In addition, German trade surplus came in at €21.5 billion in December, bettering both consensus and the previous reading.
EUR/USD levels to watch
As of writing the pair is down 0.02% at 1.1317 and a break below 1.1280 (low Feb.2) would open the door to 1.1265 (61.8% of 1.1098-1.1534) and then 1.1224 (low Jan.27). On the other hand, the immediate support aligns at 1.1362 (200h-MA) followed by 1.1400 (psychological level) and finally 1.1463 (21-d MA).