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5 Feb 2015
EUR/USD supported at 1.1300
FXStreet (Edinburgh) - The single currency is now recovering part of the deep pullback posted on Wednesday, with EUR/USD hovering over 1.1340/50.
EUR/USD hurt by Greek rumours
The pair has lost more than two big-figures since Tuesday’s tops around the mid-1.1500s. A re-emergence of buying interest around the dollar, a new decline in crude oil prices and the ECB arguing it will not accept Greek government bonds as collateral were far too much for the euro, which tested the vicinity of 1.1300 the figure following the US close yesterday.
Data wise, German Factory Orders surged 4.2% inter-month in December and 3.4% over the last twelve months. Ahead in the session, the more relevant event in the region will be the Economic Growth Forecasts released by the European Commission, ahead of Initial Claims and Trade Balance figures across the pond.
EUR/USD key levels
At the moment the pair is losing 0.34% at 1.1351 facing the next support at 1.1312 (low Feb.3) ahead of 1.1300 (psychological level) and then 1.1280 (low Feb.2). On the upside, the next hurdle lines up at 1.1400 (psychological level) ahead of 1.1485 9high Feb.4) and finally 1.1535 (high Feb.3).
EUR/USD hurt by Greek rumours
The pair has lost more than two big-figures since Tuesday’s tops around the mid-1.1500s. A re-emergence of buying interest around the dollar, a new decline in crude oil prices and the ECB arguing it will not accept Greek government bonds as collateral were far too much for the euro, which tested the vicinity of 1.1300 the figure following the US close yesterday.
Data wise, German Factory Orders surged 4.2% inter-month in December and 3.4% over the last twelve months. Ahead in the session, the more relevant event in the region will be the Economic Growth Forecasts released by the European Commission, ahead of Initial Claims and Trade Balance figures across the pond.
EUR/USD key levels
At the moment the pair is losing 0.34% at 1.1351 facing the next support at 1.1312 (low Feb.3) ahead of 1.1300 (psychological level) and then 1.1280 (low Feb.2). On the upside, the next hurdle lines up at 1.1400 (psychological level) ahead of 1.1485 9high Feb.4) and finally 1.1535 (high Feb.3).