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22 May 2015
EUR/USD optimistic near 1.1180
FXStreet (Edinburgh) - The upbeat tone remains intact around the common currency at the end of the week, with EUR/USD toying with the 1.1170/80 band, or session highs.
EUR/USD muted on Draghi, US CPI eyed
The pair continues to inch higher today, on track to recover part of the ground lost after the sharp pullback from Monday’s peaks in the mid-1.1400s. The EU Leaders Summit in Riga will be in the spotlight today, with special attention to the debt talks around Greece.
Spot paid little attention to the speech by ECB’s M.Draghi in Sintra. He argued that the euro area has been advancing markedly on structural reforms, although he commented that monetary policies are not designed specifically to fit determined countries. He also stressed that the economic outlook in the region is ‘brighter today than has been for 7 long years’.
EUR/USD levels to consider
As of writing the pair is up 0.52% at 1.1170 and a breakout of 1.1182 (high May 21) would aim for 1.1217 (38.2% of 1.1468-1.1062) and then 1.1244 (10-d MA). On the flip side, the immediate support lines up at 1.1062 (low May 20) followed by 1.0994 (50% of 1.0521-1.1468) and finally 1.0978 (daily cloud top).
EUR/USD muted on Draghi, US CPI eyed
The pair continues to inch higher today, on track to recover part of the ground lost after the sharp pullback from Monday’s peaks in the mid-1.1400s. The EU Leaders Summit in Riga will be in the spotlight today, with special attention to the debt talks around Greece.
Spot paid little attention to the speech by ECB’s M.Draghi in Sintra. He argued that the euro area has been advancing markedly on structural reforms, although he commented that monetary policies are not designed specifically to fit determined countries. He also stressed that the economic outlook in the region is ‘brighter today than has been for 7 long years’.
EUR/USD levels to consider
As of writing the pair is up 0.52% at 1.1170 and a breakout of 1.1182 (high May 21) would aim for 1.1217 (38.2% of 1.1468-1.1062) and then 1.1244 (10-d MA). On the flip side, the immediate support lines up at 1.1062 (low May 20) followed by 1.0994 (50% of 1.0521-1.1468) and finally 1.0978 (daily cloud top).