Back
3 Mar 2014
EUR/USD stabilizing around 1.3730
FXStreet (Edinburgh) - The shared currency is now looking to consolidate ground vs. the greenback, with the EUR/USD sidelining around 1.3735/30.
EUR/USD remains focused on Russia-Ukraine
Tomorrow’s docket is less than promising - let alone a market-mover - in both the euro bloc and the US economy, therefore the developments in Crimea would surely take centre stage once again. It seems likely that the EUR would continue to be under pressure in the upcoming session (along with the rest of the its risk-associated peers), as a quick solution to the conflict seems highly unlikely in the very near term. Camilla Sutton, Chief FX Strategist at Scotiabank, argued, “Near term EUR sentiment is bullish and building but the biggest near term driver is geopolitical risk… We have revised our year-end EUR forecast to 1.30”.
EUR/USD levels to watch
As of writing the pair is down 0.47% at 1.3737 with the immediate support at 1.3694 (low Feb.28) followed by 1.3674 (21-d MA). On the upside, a breakout of 1.3793 (high Mar.3) would aim for 1.3825 (high 2014 Feb.28) and then 1.3894 (high 2013 Dec.27).
EUR/USD remains focused on Russia-Ukraine
Tomorrow’s docket is less than promising - let alone a market-mover - in both the euro bloc and the US economy, therefore the developments in Crimea would surely take centre stage once again. It seems likely that the EUR would continue to be under pressure in the upcoming session (along with the rest of the its risk-associated peers), as a quick solution to the conflict seems highly unlikely in the very near term. Camilla Sutton, Chief FX Strategist at Scotiabank, argued, “Near term EUR sentiment is bullish and building but the biggest near term driver is geopolitical risk… We have revised our year-end EUR forecast to 1.30”.
EUR/USD levels to watch
As of writing the pair is down 0.47% at 1.3737 with the immediate support at 1.3694 (low Feb.28) followed by 1.3674 (21-d MA). On the upside, a breakout of 1.3793 (high Mar.3) would aim for 1.3825 (high 2014 Feb.28) and then 1.3894 (high 2013 Dec.27).