6 May 2015
EUR/USD gearing up for 1.1300
FXStreet (Edinburgh) - The buying interest is doing nothing but growing around the euro on Wednesday, now pushing EUR/USD closer to the 1.1300 mark.
EUR/USD boosted on poor US data
The sell off in the USD continues unabated today, allowing spot to print fresh session tops in levels just shy of 1.1300 the figure. Today’s EUR upside has been boosted by the lackluster results from the US data releases, where April’s ADP report and Nonfarm Productivity missed expectations during the first quarter.
Still in the data space, final April figures from Services PMIs in Euroland showed mixed results, with the German and EMU readings running in opposite directions.
EUR/USD relevant levels
The pair is advancing 0.93% at 1.1291 with the next resistance at 1.1300 (psychological level) followed by 1.1380 (high Feb.26) and then 1.1400 (psychological level). On the flip side, a breakdown of 1.1175 (low May 6) would aim for 1.1066 (low May 5) and finally 1.0959 (low Apr.29).
EUR/USD boosted on poor US data
The sell off in the USD continues unabated today, allowing spot to print fresh session tops in levels just shy of 1.1300 the figure. Today’s EUR upside has been boosted by the lackluster results from the US data releases, where April’s ADP report and Nonfarm Productivity missed expectations during the first quarter.
Still in the data space, final April figures from Services PMIs in Euroland showed mixed results, with the German and EMU readings running in opposite directions.
EUR/USD relevant levels
The pair is advancing 0.93% at 1.1291 with the next resistance at 1.1300 (psychological level) followed by 1.1380 (high Feb.26) and then 1.1400 (psychological level). On the flip side, a breakdown of 1.1175 (low May 6) would aim for 1.1066 (low May 5) and finally 1.0959 (low Apr.29).