26 Mar 2015
EUR/USD weaker around 1.0910
FXStreet (Edinburgh) - The weakness around the euro is now growing bigger on Thursday, with EUR/USD now navigating the low-1.0900s, down from 1.1050.
EUR/USD top in place?
The pair continues to be rejected by the 1.1050/60 band, recent weekly tops and critical spike post-FOMC on Wednesday 18th, adding to the mounting speculations that a top could be in place. The pair reverted the promising start today after a renewed buying interest around the greenback irrupted in the markets, forcing the euro to give away gains.
Positive data from US Initial Claims plus a better-than-expected Services PMI from Markit gave the greenback further strength, shrugging off at the same time recent disappointing releases.
EUR/USD important levels
The pair is now losing 0.55% at 1.0908 and a breakdown of 1.0891 (low Mar.24) would open the door to 1.0886 (21-d MA) and then 1.0768 (hourly low Mar.23). On the upside, the immediate hurdle lines up at 1.1053 (high Mar.26) ahead of 1.1062 (high Mar.18) and then 1.1115 (high Mar.5).
EUR/USD top in place?
The pair continues to be rejected by the 1.1050/60 band, recent weekly tops and critical spike post-FOMC on Wednesday 18th, adding to the mounting speculations that a top could be in place. The pair reverted the promising start today after a renewed buying interest around the greenback irrupted in the markets, forcing the euro to give away gains.
Positive data from US Initial Claims plus a better-than-expected Services PMI from Markit gave the greenback further strength, shrugging off at the same time recent disappointing releases.
EUR/USD important levels
The pair is now losing 0.55% at 1.0908 and a breakdown of 1.0891 (low Mar.24) would open the door to 1.0886 (21-d MA) and then 1.0768 (hourly low Mar.23). On the upside, the immediate hurdle lines up at 1.1053 (high Mar.26) ahead of 1.1062 (high Mar.18) and then 1.1115 (high Mar.5).