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21 Apr 2015
EUR/USD regains 1.0700
FXStreet (Edinburgh) - The European currency extends the recovery on Tuesday, now lifting EUR/USD back to the 1.0700 neighbourhood.
EUR/USD finds support near 1.0660
Renewed selling pressure around the euro has dragged spot to fresh lows in the 1.0660 area in early trade, although the current rebound allowed the pair to regain the 1.0700 mark.
Previously, the ZEW Survey in Germany came in mixed, with Economic Sentiment missing estimates during April albeit the Curreny Situation improved more than expected. The survey in the euro area showed the Economic Sentiment rising to 64.8 vs. consensus at 63.7 and March’s 62.4.
EUR/USD levels to consider
The pair is now losing 0.34% at 1.0701 and a breakdown of 1.0660 (low Apr.21) would open the door to 1.0646 (61.8% of 1.0521-1.0849) and finally 1.0624 (low Apr.16). On the flip side, the initial hurdle aligns at 1.0789 (21-d MA) followed by 1.0825 (high Apr.20) and then 1.0849 (high Apr.17).
EUR/USD finds support near 1.0660
Renewed selling pressure around the euro has dragged spot to fresh lows in the 1.0660 area in early trade, although the current rebound allowed the pair to regain the 1.0700 mark.
Previously, the ZEW Survey in Germany came in mixed, with Economic Sentiment missing estimates during April albeit the Curreny Situation improved more than expected. The survey in the euro area showed the Economic Sentiment rising to 64.8 vs. consensus at 63.7 and March’s 62.4.
EUR/USD levels to consider
The pair is now losing 0.34% at 1.0701 and a breakdown of 1.0660 (low Apr.21) would open the door to 1.0646 (61.8% of 1.0521-1.0849) and finally 1.0624 (low Apr.16). On the flip side, the initial hurdle aligns at 1.0789 (21-d MA) followed by 1.0825 (high Apr.20) and then 1.0849 (high Apr.17).