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14 Apr 2015
EUR/USD rebounds on weaker US eco data – KBC
FXStreet (Barcelona) - The KBC Bank Research Team comments on the impact on EUR/USD post the release of today’s US economic data.
Key Quotes
“Intraday, EUR/USD was initially downwardly oriented and started the European session at about 1.0530, the intraday low.”
“It very slowly grinded higher in uneventful trading till the release of the retail sales. These were not strong enough for traders and a good opportunity to take profit on dollars following a multi‐day strong dollar run.”
“EUR/USD shot up from 1.0560 to 1.0692 where the move stalled.”
“Will the pair try to test the first resistance at 1.0712? We don’t think so as the ECB meeting tomorrow makes traders cautious.”
Key Quotes
“Intraday, EUR/USD was initially downwardly oriented and started the European session at about 1.0530, the intraday low.”
“It very slowly grinded higher in uneventful trading till the release of the retail sales. These were not strong enough for traders and a good opportunity to take profit on dollars following a multi‐day strong dollar run.”
“EUR/USD shot up from 1.0560 to 1.0692 where the move stalled.”
“Will the pair try to test the first resistance at 1.0712? We don’t think so as the ECB meeting tomorrow makes traders cautious.”