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16 Apr 2014
EUR/USD keeps the range post-US data
FXStreet (Edinburgh) - The EUR/USD remained within today’s range around 1.3840 after the release of US housing data on Wednesday.
EUR/USD capped by 1.3850
The area beyond 1.3850 still remains elusive for EUR-bulls despite building permits and housing starts in the US economy came in on the soft side during March (0.99 million and 0.946 million, respectively). Spot will be under pressure ahead in the day however, as Yellen’s speech is due followed by the Fed’s Beige Book. “Four Federal Reserve officials are slated to speak today, and the highlight will be Yellen's speech before the NY Economics Club. She is expected to focus on explaining the current Fed stance rather than reveal new information”, noted analysts at BBH Global Currency Strategy Team.
EUR/USD levels to watch
At the moment the pair is up 0.22% at 1.3846 with the next resistance at 1.3863 (high Apr.14) and then 1.3906 (high Apr.11). On the downside, a break below 1.3807 (low Apr.16) would open the door to 1.3790 (low Apr.15and finally 1.3780 (low Apr.9).
EUR/USD capped by 1.3850
The area beyond 1.3850 still remains elusive for EUR-bulls despite building permits and housing starts in the US economy came in on the soft side during March (0.99 million and 0.946 million, respectively). Spot will be under pressure ahead in the day however, as Yellen’s speech is due followed by the Fed’s Beige Book. “Four Federal Reserve officials are slated to speak today, and the highlight will be Yellen's speech before the NY Economics Club. She is expected to focus on explaining the current Fed stance rather than reveal new information”, noted analysts at BBH Global Currency Strategy Team.
EUR/USD levels to watch
At the moment the pair is up 0.22% at 1.3846 with the next resistance at 1.3863 (high Apr.14) and then 1.3906 (high Apr.11). On the downside, a break below 1.3807 (low Apr.16) would open the door to 1.3790 (low Apr.15and finally 1.3780 (low Apr.9).