Back
14 Jan 2015
EUR/USD muted on ECJ decision
FXStreet (Edinburgh) - The shared currency kept the composure after the European Court of Justice decision, with EUR/USD lingering just around 1.1800 the figure.
EUR/USD now looks to Merkel, Draghi and Schauble
The (non-binding) decision of the European Court of Justice stated that the ECB’s OMT programme is ‘in principle’ in line with EU Treaty, but it will need to meet certain conditions. The pair remains within its recent range around 1.1790/1.1800, with market participants now waiting for the outcome of the Merkel-Draghi-Schauble close-door meeting, as it carries the potential for some volatility in the euro. Data wise, EMU’s Industrial Production is due next ahead of US Retail Sales.
EUR/USD key levels
The pair is now up 0.20% at 1.1795 with the next resistance at 1.1866 (200-h MA) followed by 1.1871 (high Jan.12) and then 1.1897 (high Jan.7). On the flip side, a breakdown of 1.1753 (2015 low Jan.13) would aim for 1.1640 (low Nov. 2005) and finally 1.1376 (low Nov.2003).
EUR/USD now looks to Merkel, Draghi and Schauble
The (non-binding) decision of the European Court of Justice stated that the ECB’s OMT programme is ‘in principle’ in line with EU Treaty, but it will need to meet certain conditions. The pair remains within its recent range around 1.1790/1.1800, with market participants now waiting for the outcome of the Merkel-Draghi-Schauble close-door meeting, as it carries the potential for some volatility in the euro. Data wise, EMU’s Industrial Production is due next ahead of US Retail Sales.
EUR/USD key levels
The pair is now up 0.20% at 1.1795 with the next resistance at 1.1866 (200-h MA) followed by 1.1871 (high Jan.12) and then 1.1897 (high Jan.7). On the flip side, a breakdown of 1.1753 (2015 low Jan.13) would aim for 1.1640 (low Nov. 2005) and finally 1.1376 (low Nov.2003).