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20 Feb 2014
EUR/USD trims losses after US data
FXStreet (Córdoba) - The EUR/USD edged a few pips higher following the latest string of US data which came mainly in line with expectations.
The EUR/USD staged a shy bounce after data showed the US CPI grew 0.1% in January and 1.6% YoY meeting market consensus. Meanwhile, initial jobless claims dropped 3K last week to 336K versus 335K expected. At time of writing, the EUR/USD is trading at the 1.3715 area from 1.3700 pre-data, recording a 0.1% loss on the day. The pair fell to a low of 1.3685 during the European session, weighed by disappointing European PMI's.
EUR/USD levels to watch
If the EUR/USD extends its recovery, next resistances are seen at 1.3762 (Feb 20 high), 1.3772 (Feb 19 high) and 1.3800 (psychological level). On the other hand, supports are seen at 1.3685/80 (Feb 20 low/10-day SMA), 1.3653 (50-day SMA) and 1.3618 (100-day SMA).
The EUR/USD staged a shy bounce after data showed the US CPI grew 0.1% in January and 1.6% YoY meeting market consensus. Meanwhile, initial jobless claims dropped 3K last week to 336K versus 335K expected. At time of writing, the EUR/USD is trading at the 1.3715 area from 1.3700 pre-data, recording a 0.1% loss on the day. The pair fell to a low of 1.3685 during the European session, weighed by disappointing European PMI's.
EUR/USD levels to watch
If the EUR/USD extends its recovery, next resistances are seen at 1.3762 (Feb 20 high), 1.3772 (Feb 19 high) and 1.3800 (psychological level). On the other hand, supports are seen at 1.3685/80 (Feb 20 low/10-day SMA), 1.3653 (50-day SMA) and 1.3618 (100-day SMA).