EUR/USD: outlook for Feb. 19

Yesterday EUR/USD closed above $1.3739 (Jan. 24 high) which used to be a strong resistance level. In the short-term the single currency has scope for growth.

The central pivot is at $1.3740. Support is at $1.3715, $1.3680 and $1.3660. Resistance is at $1.3792, $1.3819 and $1.3850.

Danske Bank is targeting $1.3795, while SEB Bank – $1.3820. Westpac says that the pair may reach $1.3895 before turning down.

Today the focus will be on American trading session, on the housing data due at 13:30 GMT and the release of the FOMC January meeting minutes at 19:00 GMT. The advance of EUR/USD will stagger and we’ll see some correction lower if the Fed’s members are as optimistic about the economy as before.

Chart. H4 EUR/USD

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