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3 Mar 2014
EUR/USD sidelined around 1.3770
FXStreet (Edinburgh) - The shared currency is looking to consolidate below the 1.3800 handle on Monday, taking the EUR/USD to the 1.3775/70 area.
EUR/USD weaker on risk-off trade
Tensions around Russia-Ukraine have sparked the risk-off sentiment at the beginning of the week, eclipsing better-than-expected manufacturing PMIs in the euro area during February. The recent upside would remain under pressure ahead of the speech by ECB’s Draghi and the ISM Manufacturing in the US. “Friday's break through 1.3727 resistance unleashed a severe rise all the way up to 1.3823, signaling, that the uptrend on the senior frames has been renewed, towards 1.4000 sentiment area. Key intraday support is projected at 1.3726 and initial resistance lies at 1.3792”, Suggested Stoyan Mihaylov, Analyst at DeltaStock.com.
EUR/USD levels to watch
The pair is now losing 0.19% at 1.3777 with the next support at 1.3735 (10-d MA) followed by 1.3694 (low Feb.28) and then 1.3660 (21-d MA). On the upside, a breakout of 1.3825 (high 2014 Feb.28) would expose 1.3894 (high 2013 Dec.27) and finally 1.3900 (psychological level).
EUR/USD weaker on risk-off trade
Tensions around Russia-Ukraine have sparked the risk-off sentiment at the beginning of the week, eclipsing better-than-expected manufacturing PMIs in the euro area during February. The recent upside would remain under pressure ahead of the speech by ECB’s Draghi and the ISM Manufacturing in the US. “Friday's break through 1.3727 resistance unleashed a severe rise all the way up to 1.3823, signaling, that the uptrend on the senior frames has been renewed, towards 1.4000 sentiment area. Key intraday support is projected at 1.3726 and initial resistance lies at 1.3792”, Suggested Stoyan Mihaylov, Analyst at DeltaStock.com.
EUR/USD levels to watch
The pair is now losing 0.19% at 1.3777 with the next support at 1.3735 (10-d MA) followed by 1.3694 (low Feb.28) and then 1.3660 (21-d MA). On the upside, a breakout of 1.3825 (high 2014 Feb.28) would expose 1.3894 (high 2013 Dec.27) and finally 1.3900 (psychological level).