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6 Mar 2014
EUR/USD in highs on German data
FXStreet (Edinburgh) - The EUR/USD attempted to follow through the 1.3750 level post-German data on Thursday, printing at the same time fresh daily highs.
EUR/USD locked within 1.3720-1.3750
At least the pair woke up from the congestion pattern near 1.3730 after German Factory Orders expanded 1.2% inter-month and 8.4% in a year to January, surpassing previous surveys. “All in all, today’s data send two important messages for the German growth outlook. The near term looks very rosy and industrial production should gain further momentum. To maintain this momentum into the longer term, however, the economy needs more domestic demand”, assessed Carsten Brzeski, Analyst at ING Bank NV.
EUR/USD levels to watch
The pair is now up 0.08% at 1.3741 with the next hurdle at 1.3749 (high Mar.5) followed by 1.3782 (high Mar.4) and finally 1.3793 (high Mar.3). On the flip side, a break below 1.3707 (low Mar.5) would aim for 1.3703 (21-d MA) and then 1.3694 (low Feb.28).
EUR/USD locked within 1.3720-1.3750
At least the pair woke up from the congestion pattern near 1.3730 after German Factory Orders expanded 1.2% inter-month and 8.4% in a year to January, surpassing previous surveys. “All in all, today’s data send two important messages for the German growth outlook. The near term looks very rosy and industrial production should gain further momentum. To maintain this momentum into the longer term, however, the economy needs more domestic demand”, assessed Carsten Brzeski, Analyst at ING Bank NV.
EUR/USD levels to watch
The pair is now up 0.08% at 1.3741 with the next hurdle at 1.3749 (high Mar.5) followed by 1.3782 (high Mar.4) and finally 1.3793 (high Mar.3). On the flip side, a break below 1.3707 (low Mar.5) would aim for 1.3703 (21-d MA) and then 1.3694 (low Feb.28).