EURUSD Through Resistance
On Daily FX News said The Euro rally has gone undeterred, as dismal US non-farm payrolls propelled EURUSD through resistance at 1.4770. While the pair will likely remain dominated by US-related news and the prospects for a sharp 50bp rate cut at the end of January, the release of Euro-zone consumer and services sector confidence could weigh on EURUSD, at least for a brief moment.
Indeed, another factor behind the Euro’s steep ascent has been the staunchly hawkish bias of European Central Bank President Jean-Clause Trichet, as hot CPI figures have left him little choice but to issue strong rhetoric on price stability. See the FX Graphic
As a result, disappointing Euro-zone sentiment reports could lead to a mild sell-off in EURUSD. Nevertheless, as long as price holds above 1.48, the pair may continue to trek towards record highs above 1.50.
Visit daily FX recently updated EURUSD Currency Room for specific resources geared towards the US Dollar.
Indeed, another factor behind the Euro’s steep ascent has been the staunchly hawkish bias of European Central Bank President Jean-Clause Trichet, as hot CPI figures have left him little choice but to issue strong rhetoric on price stability. See the FX Graphic
As a result, disappointing Euro-zone sentiment reports could lead to a mild sell-off in EURUSD. Nevertheless, as long as price holds above 1.48, the pair may continue to trek towards record highs above 1.50.
Visit daily FX recently updated EURUSD Currency Room for specific resources geared towards the US Dollar.
AUDNZD Technical Fundamental
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