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1 Apr 2015
EUR/USD regains 1.0740
FXStreet (Edinburgh) - The shared currency gave away initial gains vs. the greenback, with EUR/USD now retaking 1.0740 after dropping to the 1.0730/20 band.
EUR/USD lower despite data
The euro keeps ignoring the positive data from the euro region. The pair accelerated its daily decline to the area of weekly lows near 1.0720, in spite of the manufacturing PMIs coming in above expectations during March.
Next of relevance for the pair will be the US ADP employment report (225K exp.), followed by the Markit’s PMI and the ISM Manufacturing (52.5 exp.).
EUR/USD relevant levels
At the moment the pair is advancing 0.15% at 1.0747 with the next up barrier at 1.0833 (Tenkan Sen) would open the door to 1.0860 (100-h MA) and then 1.0900 (high Mar.30). On the downside, a breach of 1.0700 (psychological level) would aim for 1.0688 (61.8% of 1.0457-1.1062) and finally 1.0618 (low Mar.19).
EUR/USD lower despite data
The euro keeps ignoring the positive data from the euro region. The pair accelerated its daily decline to the area of weekly lows near 1.0720, in spite of the manufacturing PMIs coming in above expectations during March.
Next of relevance for the pair will be the US ADP employment report (225K exp.), followed by the Markit’s PMI and the ISM Manufacturing (52.5 exp.).
EUR/USD relevant levels
At the moment the pair is advancing 0.15% at 1.0747 with the next up barrier at 1.0833 (Tenkan Sen) would open the door to 1.0860 (100-h MA) and then 1.0900 (high Mar.30). On the downside, a breach of 1.0700 (psychological level) would aim for 1.0688 (61.8% of 1.0457-1.1062) and finally 1.0618 (low Mar.19).