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EUR/USD hits 1.1380 on EMU data

FXStreet (Edinburgh) - The shared currency is now extending its upside after releases in the EMU, with EUR/USD posting fresh highs near 1.1380.

EUR/USD closer to 1.1400

The pair accelerates its momentum despite the mixed data from the euro area, with only Economic Sentiment surpassing expectations for the present month at 102.1; Consumer Confidence came in at -6.7, matching estimates, while Business Climate, Services Sentiment and Industrial Confidence missed the median during the same period.

In addition, Business Confidence and Consumer Confidence in Italy improved to 99.1 and 110.9, respectively for the current month. Previous data showed the unemployment change in Germany decreased by 20K in February with the jobless rate unchanged at 6.5%.

EUR/USD levels to consider

As of writing the pair is up 0.04% at 1.1370 with the initial hurdle at 1.1390 (high Feb.25) ahead of 1.1450 (high Feb.19) and then 1.1486 (high Feb.6). On the downside, a break below 1.1278 (low Feb.20) would target 1.1270 (low Feb.9) en route to 1.1262 (low Jan.29).

European economic sentiment index increases again in February

The Economic Sentiment Indicator (ESI) rose for the second month in a row in February. It increased by 0.7 points in the Eurozone (to 102.1) and by 0.4 points in the EU (to 105.1).
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EUR/JPY to fall below 135.00?

The EUR/JPY pair is threatening to fall below 135.00 levels after an upbeat German employment data failed to strengthen the shared currency. Additional bearish pressure came from a disappointing sentiment indicator in the Eurozone.
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