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4 Mar 2015
EUR/USD depressed around 1.1130
FXStreet (Edinburgh) - The shared currency kept the composure following EMU’s retail sales for the month of January, with EUR/USD gyrating around 1.1120/30.
EUR/USD in multi-year lows
After testing levels last seen more than eleven years ago around 1.1120/15, the pair is now attempting to regain the 1.1130 area after Retail Sales in the euro area came in above consensus, growing 1.1% inter-month and 3.7% over the last twelve months.
The demand for the euro remains subdued after a bout of selling interest drove spot to sub-1.1120 levels, following Services PMIs in the euro bloc below forecasts.
EUR/USD levels to consider
As of writing the pair is retreating 0.35% at 1.1135 facing the next support at 1.1115 (low Mar.4) followed by 1.1098 (11-year low Jan.26) and finally 1.1047 (low Sep.8 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).
EUR/USD in multi-year lows
After testing levels last seen more than eleven years ago around 1.1120/15, the pair is now attempting to regain the 1.1130 area after Retail Sales in the euro area came in above consensus, growing 1.1% inter-month and 3.7% over the last twelve months.
The demand for the euro remains subdued after a bout of selling interest drove spot to sub-1.1120 levels, following Services PMIs in the euro bloc below forecasts.
EUR/USD levels to consider
As of writing the pair is retreating 0.35% at 1.1135 facing the next support at 1.1115 (low Mar.4) followed by 1.1098 (11-year low Jan.26) and finally 1.1047 (low Sep.8 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).