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4 May 2015
EUR/USD stuck around 1.1150
FXStreet (Edinburgh) - The shared currency remains mired in the negative territory, with EUR/USD consolidating around the mid-1.1100s.
EUR/USD capped by 1.1300
The pair is posting its second consecutive drop today, coming down from the important Fibo retracement of the 1.4000-1.0457 down move at 1.1296 registered last week. Despite the recovery in the US dollar, spot managed to leave session troughs near 1.1120, although it remains unable to gather further traction beyond 1.1150/60 so far.
In addition, a positive surprise in today’s US Factory Orders has been limiting occasional attempts of recover further ground. Looking to Tuesday’s calendar in Euroland, the main highlight will be the release of the Economic Growth Forecasts by the European Commission, ahead of US Markit’s Services PMI and the ISM Non-Manufacturing.
EUR/USD relevant levels
The pair is down 0.48% at 1.1146 and a drop below 1.1123 (low May 4) would expose 1.1072 (low Apr.30) and finally 1.0959 (low Apr.29). On the upside, the immediate hurdle aligns at 1.1225 (high May 4) ahead of 1.1291 (high May 1) and then 1.1380 (high Feb.26).
EUR/USD capped by 1.1300
The pair is posting its second consecutive drop today, coming down from the important Fibo retracement of the 1.4000-1.0457 down move at 1.1296 registered last week. Despite the recovery in the US dollar, spot managed to leave session troughs near 1.1120, although it remains unable to gather further traction beyond 1.1150/60 so far.
In addition, a positive surprise in today’s US Factory Orders has been limiting occasional attempts of recover further ground. Looking to Tuesday’s calendar in Euroland, the main highlight will be the release of the Economic Growth Forecasts by the European Commission, ahead of US Markit’s Services PMI and the ISM Non-Manufacturing.
EUR/USD relevant levels
The pair is down 0.48% at 1.1146 and a drop below 1.1123 (low May 4) would expose 1.1072 (low Apr.30) and finally 1.0959 (low Apr.29). On the upside, the immediate hurdle aligns at 1.1225 (high May 4) ahead of 1.1291 (high May 1) and then 1.1380 (high Feb.26).