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2 Apr 2014
EUR/USD challenging 1.3800
FXStreet (Edinburgh) - The EUR/USD is now easing from session highs near 1.3820, putting to the test the key support at 1.3800 the figure.
EUR/USD clings to 1.3800
The pair is extending its bounce off last week’s lows near the 1.3700 handle ahead of tomorrow’s key ECB meeting. Consensus expects a closer call despite the somewhat hawkish (ish) comments from V.Constancio on Tuesday. “EUR shorts are clearly tired however increasingly we see the near term risk for EUR as downward”, noted Camilla Sutton, Chief FX Strategist at Scotiabank. Sutton also added that the technical studies are bearish now”. Data-wise in the euro area, the Spanish unemployment decreased by 16.6K during March ahead of EMU’s Q4 GDP figures due later.
EUR/USD relevant levels
At the moment the pair is up 0.01% at 1.3796 with the immediate resistance at 1.3827 (high Mar.26) ahead of 1.3828 (21-d MA) and then 1.3848 (high Mar.25). On the flip side, a dip beyond 1.3768 (low Apr.1) would open the door to 1.3721 (low Mar.31) and finally 1.3716 (55-d MA).
EUR/USD clings to 1.3800
The pair is extending its bounce off last week’s lows near the 1.3700 handle ahead of tomorrow’s key ECB meeting. Consensus expects a closer call despite the somewhat hawkish (ish) comments from V.Constancio on Tuesday. “EUR shorts are clearly tired however increasingly we see the near term risk for EUR as downward”, noted Camilla Sutton, Chief FX Strategist at Scotiabank. Sutton also added that the technical studies are bearish now”. Data-wise in the euro area, the Spanish unemployment decreased by 16.6K during March ahead of EMU’s Q4 GDP figures due later.
EUR/USD relevant levels
At the moment the pair is up 0.01% at 1.3796 with the immediate resistance at 1.3827 (high Mar.26) ahead of 1.3828 (21-d MA) and then 1.3848 (high Mar.25). On the flip side, a dip beyond 1.3768 (low Apr.1) would open the door to 1.3721 (low Mar.31) and finally 1.3716 (55-d MA).