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23 Feb 2015
EUR/USD regains 1.1350
FXStreet (Edinburgh) - The common currency is prolonging its recovery from lows in sub-1.1300 levels during he morning in Euroland, taking EUR/USD back to the mid-1.1300s.
EUR/USD focus on data, Greece, Yellen
Tuesday will be really interesting for the pair, as Greek officials promised the Eurogroup to deliver the letter with reforms necessary to start paving the way to clinch the 4-month loan extension. Furthermore, Germany will publish its GDP figures for the fourth quarter, the EMU will release the final CPI for the month of January and ECB’s M.Draghi will hold a speech. Across the pond, Chairwoman Janet Yellen will testify before the Congress in what will be the main event, followed by Consumer Confidence and the Services PMI by Markit.
The pair managed to bounce off session lows in the 1.1290/95 band, although the negative tone persists amidst a better performance of the dollar and rising uncertainties around Greece.
EUR/USD levels to consider
As of writing the pair is retreating 0.26% at 1.1347 and a breakdown of 1.1278 (low Feb.20) would aim for 1.1270 (low Feb.9) and finally 1.1262 (low Jan.29). On the upside, the initial barrier aligns at 1.1430 (high Feb.20) followed by 1.1450 (high Feb.19) and then 1.1486 (high Feb.6).
EUR/USD focus on data, Greece, Yellen
Tuesday will be really interesting for the pair, as Greek officials promised the Eurogroup to deliver the letter with reforms necessary to start paving the way to clinch the 4-month loan extension. Furthermore, Germany will publish its GDP figures for the fourth quarter, the EMU will release the final CPI for the month of January and ECB’s M.Draghi will hold a speech. Across the pond, Chairwoman Janet Yellen will testify before the Congress in what will be the main event, followed by Consumer Confidence and the Services PMI by Markit.
The pair managed to bounce off session lows in the 1.1290/95 band, although the negative tone persists amidst a better performance of the dollar and rising uncertainties around Greece.
EUR/USD levels to consider
As of writing the pair is retreating 0.26% at 1.1347 and a breakdown of 1.1278 (low Feb.20) would aim for 1.1270 (low Feb.9) and finally 1.1262 (low Jan.29). On the upside, the initial barrier aligns at 1.1430 (high Feb.20) followed by 1.1450 (high Feb.19) and then 1.1486 (high Feb.6).