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15 Mar 2013
Forex: EUR/USD easing to 1.3010/15
FXstreet.com (Barcelona) - The bloc currency is giving away some initial gains, retracing to the area around 1.3015 after hitting fresh weekly highs above 1.3040, ahead of the CPI figures in the euro area.
In consideration of the upcoming inflation figures in the US economy, Senior Analyst Flemming Nielsen at Danske Bank suggested, “Even though our forecast is in line with consensus, the release should show that inflation is not an issue, underlining that the Fed is in no hurry to exit and it might, everything equal, support EUR/USD”.
At the moment, the pair is up 0.06% at 1.3012 facing the next hurdle at 1.3075 (high Mar.12) ahead of 1.3124 (MA21d) and then 1.3127 (MA100d).
On the downside, a breach of 1.2910 (76.4% of Nov-Feb rise) would expose 1.2881 (low Dec.10) and finally 1.2878 (low Dec.7).
In consideration of the upcoming inflation figures in the US economy, Senior Analyst Flemming Nielsen at Danske Bank suggested, “Even though our forecast is in line with consensus, the release should show that inflation is not an issue, underlining that the Fed is in no hurry to exit and it might, everything equal, support EUR/USD”.
At the moment, the pair is up 0.06% at 1.3012 facing the next hurdle at 1.3075 (high Mar.12) ahead of 1.3124 (MA21d) and then 1.3127 (MA100d).
On the downside, a breach of 1.2910 (76.4% of Nov-Feb rise) would expose 1.2881 (low Dec.10) and finally 1.2878 (low Dec.7).