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19 May 2014
EUR/USD uninspired by Weidmann
FXStreet (Córdoba) - The EUR/USD continues to trade immutable, trapped in a narrow range Monday, unaffected by Bundesbank’s Weidmann speech.
Buba's President Jens Weidmann said Monday that even though the ECB is concerned about a strong euro, “it would be shortsighted to only take one side of the exchange rate into view”. Despite comments, the EUR/USD remained little changed at the 1.3715 area, where it has spent most of the European session.
Weidmann refrained from make further comments on ECB future policy, which is taking center attention and keeping investors sidelined, after Draghi said the Governing Council is comfortable with easing next meeting.
EUR/USD technical levels
Having traded within 1.3690 and 1.3725 since the Asian opening, the EUR/USD is up 0.17% at 1.3715, with immediate resistances at 1.3729 (23.6% retracement of 1.3993/1.3647), 1.3739 (100-day SMA), 1.3774 (May 12 high) and 1.3800 (psychological level).
On the flip side, supports are seen at 1.3642 (Feb 27 low), 1.3623 (200-day SMA) and 1.3600 (psychological level).
Buba's President Jens Weidmann said Monday that even though the ECB is concerned about a strong euro, “it would be shortsighted to only take one side of the exchange rate into view”. Despite comments, the EUR/USD remained little changed at the 1.3715 area, where it has spent most of the European session.
Weidmann refrained from make further comments on ECB future policy, which is taking center attention and keeping investors sidelined, after Draghi said the Governing Council is comfortable with easing next meeting.
EUR/USD technical levels
Having traded within 1.3690 and 1.3725 since the Asian opening, the EUR/USD is up 0.17% at 1.3715, with immediate resistances at 1.3729 (23.6% retracement of 1.3993/1.3647), 1.3739 (100-day SMA), 1.3774 (May 12 high) and 1.3800 (psychological level).
On the flip side, supports are seen at 1.3642 (Feb 27 low), 1.3623 (200-day SMA) and 1.3600 (psychological level).