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2 Mar 2015

EUR/USD in session highs around 1.1220

FXStreet (Edinburgh) - The shared currency is now gathering further traction vs. the US dollar, pushing EUR/USD to intraday peaks around 1.1220.

EUR/USD boosted post-CPI

The euro is seeing its demand renewed at the beginning of the week, retaking the 1.1200 handle and printing fresh daily highs in the 1.1220 area. Consumer prices higher than expected in the euro area for the past month gave extra legs to the pair, collaborating with the rebound from the 1.1170 area.

The US manufacturing sector will also be in the limelight later, as the ISM and Markit’s PMI are due, followed by Personal Income/Expending and January’s Personal Consumption Expenditures.

EUR/USD levels to consider

At the moment the pair is up 0.28% at 1.1222 with the initial hurdle at 1.1245 (high Feb.27) followed by 1.1317 (10-d MA) and finally 1.1345 (21-d MA). On the downside, a breach below 1.1100 (psychological level) would open the door to 1.1098 (11-year low Jan.26) and then 1.1000 (psychological level).
Mar 2, 2015

Bunds might see some near-term correction – RBS

Dmytro Bondar, Technical Analyst at RBS, notes that the recent break from the range has triggered the bull flag with 0.22% as target, but some near-term correction is possible.
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Mar 2, 2015

GBP/USD additional gains possible above 1.5420 – FXStreet

Valeria Bednarik, Chief Analyst at FXStreet, gives the technical outlook for GBP/USD, with the pair expected to gain further above 1.5420 levels.
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