A continuation of the increasing buying interest is now lifting EUR/USD above the 1.1400 handle, printing fresh weekly highs at the same time.
EUR/USD boosted by Greek news
The pair saw its upside accelerated after Greek banks can now access further liquidity via an increment of the ECB’s ELA (Emergency Liquidity Assistance) to €65 billion, to be administered by the Bank of Greece, as usual.
Poor results from the US retail sales in January – contracting further than expected - and higher Initial Claims last week (304K vs. 279K) hurt the US dollar, giving spot extra legs and thus sustaining the ascent beyond 1.1420.
EUR/USD key levels
As of writing the pair is up 1.00% at 1.1406 with the next hurdle at 1.1499 (high Feb.5) ahead of 1.1500 (psychological level) and finally 1.1534 (high Feb.3). On the downside, the initial support aligns at 1.1360 (10-d MA) ahead of 1.1270 (low Feb.9) and then 1.1262 (low Jan.29).
EUR/USD boosted by Greek news
The pair saw its upside accelerated after Greek banks can now access further liquidity via an increment of the ECB’s ELA (Emergency Liquidity Assistance) to €65 billion, to be administered by the Bank of Greece, as usual.
Poor results from the US retail sales in January – contracting further than expected - and higher Initial Claims last week (304K vs. 279K) hurt the US dollar, giving spot extra legs and thus sustaining the ascent beyond 1.1420.
EUR/USD key levels
As of writing the pair is up 1.00% at 1.1406 with the next hurdle at 1.1499 (high Feb.5) ahead of 1.1500 (psychological level) and finally 1.1534 (high Feb.3). On the downside, the initial support aligns at 1.1360 (10-d MA) ahead of 1.1270 (low Feb.9) and then 1.1262 (low Jan.29).
