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18 Mar 2015
EUR/USD testing highs above 1.0620
FXStreet (Edinburgh) - The European currency is appreciating further vs. the dollar on Wednesday, with EUR/USD challenging daily tops around 1.0620/25.
EUR/USD indifferent post data
The pair remained apathetic after the releases in the EMU, with Construction Output in the euro area expanding 1.9% inter-month in January; in addition, the trade surplus shrunk to €7.9 billion, missing estimates at €15.0 billion during the same period.
Market participants remain cautious ahead of the FOMC meeting due in the European evening. The greenback, in the meantime, is extending the weekly sell off following the sharp gains last week, all in anticipation of a hawkish tone from the Committee today.
EUR/USD key levels
As of writing the pair is gaining 0.24% at 1.0623 with the next hurdle at 1.0651 (high Mar.17) ahead of 1.0684 (high Mar.12) and then 1.0718 (high Mar.11). On the flip side, a breach of 1.0551 (low Mar.17) would target 1.0457 (2015 low Mar.16) en route to 1.0400 (psychological level).
EUR/USD indifferent post data
The pair remained apathetic after the releases in the EMU, with Construction Output in the euro area expanding 1.9% inter-month in January; in addition, the trade surplus shrunk to €7.9 billion, missing estimates at €15.0 billion during the same period.
Market participants remain cautious ahead of the FOMC meeting due in the European evening. The greenback, in the meantime, is extending the weekly sell off following the sharp gains last week, all in anticipation of a hawkish tone from the Committee today.
EUR/USD key levels
As of writing the pair is gaining 0.24% at 1.0623 with the next hurdle at 1.0651 (high Mar.17) ahead of 1.0684 (high Mar.12) and then 1.0718 (high Mar.11). On the flip side, a breach of 1.0551 (low Mar.17) would target 1.0457 (2015 low Mar.16) en route to 1.0400 (psychological level).