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4 Jul 2013
EUR/USD flat-lining above 1.2900
FXstreet.com (Edinburgh) - The EUR/USD is floating just above 1.2900 the figure towards the end of the day, as markets are gradually absorbed by the inactivity due to the Independence Day holiday in the US.
EUR/USD under pressure ahead of NFP
Tomorrow’s Payrolls are expected to show that the US economy added 165K jobs during June, lower than May’s 175K, although keeping intact the bullish prospect for the greenback for the second half of the year. “But an upside surprise risks pressuring the tapering moves further and testing the forward guidance provided by the ECB and BoE”, suggested the Global Research Team at TD Securities.
EUR/USD key levels
The pair is now losing 0.69% at 1.2918 and a breakdown of 1.2883 (low. Jul.4) would open the door to 1.2859 (weekly cloud top) ahead of 1.2838 (low May 29). On the upside, resistance levels align at 1.3032 (high Jul.3) followed by 1.3055 (MA100d) and finally 1.3078 (high Jul.2).
EUR/USD under pressure ahead of NFP
Tomorrow’s Payrolls are expected to show that the US economy added 165K jobs during June, lower than May’s 175K, although keeping intact the bullish prospect for the greenback for the second half of the year. “But an upside surprise risks pressuring the tapering moves further and testing the forward guidance provided by the ECB and BoE”, suggested the Global Research Team at TD Securities.
EUR/USD key levels
The pair is now losing 0.69% at 1.2918 and a breakdown of 1.2883 (low. Jul.4) would open the door to 1.2859 (weekly cloud top) ahead of 1.2838 (low May 29). On the upside, resistance levels align at 1.3032 (high Jul.3) followed by 1.3055 (MA100d) and finally 1.3078 (high Jul.2).