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27 Mar 2015
EUR/USD poised to test 1.0800
FXStreet (Edinburgh) - The shared currency is now intensifying its leg lower, dragging EUR/USD to the lower band of the daily range near 1.0800 the figure.
EUR/USD focus on US GDP
The context remains favourable to the risk aversion and USD-friendly at the end of the week, allowing the greenback to extend the buying interest already insinuated on Thursday. Spot is down more than 2 big-figures since yesterday’s peaks around the mid-1.10s and t he door remains open for further pullbacks in case the US releases surprise investors today.
Next of relevance will be another revision of the US GDP Annualized ahead of the Consumer Sentiment gauge tracked by the Reuters/Michigan index and the speech by Chairwoman J.Yellen.
EUR/USD levels to consider
As of writing the pair is down 0.64% at 1.0812 with the next support at 1.0800 (psychological handle) ahead of 1.0767 (low Mar.23) and finally 1.0656 (low Mar.20). On the upside, a break above 1.0896 (hourly high Mar.27) would aim for 1.0930 (100-h MA) and then 1.1052 (high Mar.26).
EUR/USD focus on US GDP
The context remains favourable to the risk aversion and USD-friendly at the end of the week, allowing the greenback to extend the buying interest already insinuated on Thursday. Spot is down more than 2 big-figures since yesterday’s peaks around the mid-1.10s and t he door remains open for further pullbacks in case the US releases surprise investors today.
Next of relevance will be another revision of the US GDP Annualized ahead of the Consumer Sentiment gauge tracked by the Reuters/Michigan index and the speech by Chairwoman J.Yellen.
EUR/USD levels to consider
As of writing the pair is down 0.64% at 1.0812 with the next support at 1.0800 (psychological handle) ahead of 1.0767 (low Mar.23) and finally 1.0656 (low Mar.20). On the upside, a break above 1.0896 (hourly high Mar.27) would aim for 1.0930 (100-h MA) and then 1.1052 (high Mar.26).