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14 Feb 2014
EUR/USD seeking a close on 1.37
FXStreet (Barcelona) - EUR/USD took on the 1.37 handle in a progressive drift from yesterday’s business and this is creating a bit of activity between traders as we approach the end of the week.
="">The USD is having a bad month and strategists at Rabobank explained, “Many investors may have been prepared to shrug off a single set of poor US labour market data. However, two consecutive weak jobs reports, soft retail sales, a sharp drop in durable goods, a nasty fall in manufacturing and a mixed set of forward looking activity data pose the question of whether the market needs to pare back its optimism regarding US growth this year. By contrast the release of the better than expected Eurozone GDP has underpinned the EUR while the upward revision to UK growth forecasts by the Bank of England left sterling on a stronger footing”.
EUR/USD Levels
The 20 DMA is 1.3599, the 50 DMA is 1.3653 and the 200 DMA 1.3395. RSI (14) reads 59.07. Supports are ascending from 1.3598, 1.3615, 1.3637 and 1.3658. Spot is 1.3694 while resistances are 1.3692, 1.3716, 1.3740 and 1.3776.
="">The USD is having a bad month and strategists at Rabobank explained, “Many investors may have been prepared to shrug off a single set of poor US labour market data. However, two consecutive weak jobs reports, soft retail sales, a sharp drop in durable goods, a nasty fall in manufacturing and a mixed set of forward looking activity data pose the question of whether the market needs to pare back its optimism regarding US growth this year. By contrast the release of the better than expected Eurozone GDP has underpinned the EUR while the upward revision to UK growth forecasts by the Bank of England left sterling on a stronger footing”.
EUR/USD Levels
The 20 DMA is 1.3599, the 50 DMA is 1.3653 and the 200 DMA 1.3395. RSI (14) reads 59.07. Supports are ascending from 1.3598, 1.3615, 1.3637 and 1.3658. Spot is 1.3694 while resistances are 1.3692, 1.3716, 1.3740 and 1.3776.