OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD pushes to highs beyond 1.2470

FXStreet (Edinburgh) - The shared currency is now looking to break above the 1.2440 area, lifting EUR/USD to the boundaries of 1.2470.

EUR/USD firmer after CPI data

The pair is trading on a firmer footing after consumer prices from Germany, France, Italy and Spain matched expectations ahead of tomorrow’s critical release of the EMU’s final CPI for the month of October. Ahead in the session, the only release of note will be US Initial Claims, expected at 280K in the week ended on November 7th. “EUR/USD though is unlikely to muster anything more than a short term bounce that should fail ahead of 1.26”, noted Strategist Richard Franulovich at Westpac.

EUR/USD key levels

The pair is now up 0.28% at 1.2470 with the next resistance at 1.2484 (10-d MA) ahead of 1.2499 (high Nov.11) and then 1.2509 (high Nov.10). On the flip side, a breach of 1.2430 (low Nov.12) would expose 1.2394 (low Nov.11) and finally 1.2358 (low Nov.7).

Carney about to put pen to paper? – Rabobank

Analysts at Rabobank comment that Mr. Carney will have to write the proposed letter to the Chancellor as the probability of inflation temporarily falling below 1% has increased in the near term.
Read more Previous

Yen weakens, JPY rising towards 116 - BTMU

Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ sees USD/JPY rising back towards 116.00 due to a moderately weaker Yen because of the sales tax hike planned next year and the snap election speculation.
Read more Next
Start livechat