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3 Mar 2014
EUR/USD unchanged after US data
FXStreet (Córdoba) - The EUR/USD remained little changed at the 1.3770 area following the latest string of US data which showed personal income and spending beat expectations in January.
Consumer spending in the US rose a seasonally adjusted 0.4% in January, the Commerce Department said Monday, while personal income advanced 0.3% exceeding expectations of 0.1% and 0.2% respectively. However, the EUR/USD was barely affected by data and clung to the 1.3770/75 area, where it is nearly flat on the day.
EUR/USD technical perspective
"Friday's break through 1.3727 resistance unleashed a severe rise all the way up to 1.3823, signaling, that the uptrend on the senior frames has been renewed, towards 1.4000 sentiment area", said Stoyan Mihaylov, analyst at DeltaStock.com. "Key intraday support is projected at 1.3726 and initial resistance lies at 1.3792".
Consumer spending in the US rose a seasonally adjusted 0.4% in January, the Commerce Department said Monday, while personal income advanced 0.3% exceeding expectations of 0.1% and 0.2% respectively. However, the EUR/USD was barely affected by data and clung to the 1.3770/75 area, where it is nearly flat on the day.
EUR/USD technical perspective
"Friday's break through 1.3727 resistance unleashed a severe rise all the way up to 1.3823, signaling, that the uptrend on the senior frames has been renewed, towards 1.4000 sentiment area", said Stoyan Mihaylov, analyst at DeltaStock.com. "Key intraday support is projected at 1.3726 and initial resistance lies at 1.3792".