6 Mar 2015
EUR/USD stabilizing near 1.0850
FXStreet (Edinburgh) - The decline in the single currency seems to have found decent support around the mid 1.0800s today, with EUR/USD meandering in the 1.0840/50 band so far.
EUR/USD hurt by NFP, rate hike expectations
The pair has quickly broken down the key 1.1000 handle following the solid print from the US Payrolls during February (295K act.), extending the drop to levels last seen in September 2003 around 1.0840.
US Treasuries in yearly highs and speculations of a potential rate hike by the Fed at the June meeting are all plotting against the slightest attempt of recovery in the pair, which is closing the third consecutive week in red, down from 1.1450 in mid-February.
EUR/USD levels to consider
As of writing the pair is retreating 1.56% at 1.0854 facing the next support at 1.0809 (low Sep.4 2003) ahead of 1.0800 (psychological level) and then 1.0762 (low Sep.3 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).
EUR/USD hurt by NFP, rate hike expectations
The pair has quickly broken down the key 1.1000 handle following the solid print from the US Payrolls during February (295K act.), extending the drop to levels last seen in September 2003 around 1.0840.
US Treasuries in yearly highs and speculations of a potential rate hike by the Fed at the June meeting are all plotting against the slightest attempt of recovery in the pair, which is closing the third consecutive week in red, down from 1.1450 in mid-February.
EUR/USD levels to consider
As of writing the pair is retreating 1.56% at 1.0854 facing the next support at 1.0809 (low Sep.4 2003) ahead of 1.0800 (psychological level) and then 1.0762 (low Sep.3 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).