5 Aug 2015
EUR/USD off lows, around 1.0870
FXStreet (Edinburgh) - Choppy session for EUR/USD today, meandering between the mid-1.0800s and session tops in the boundaries of 1.0940.
EUR/USD swings with US data
Spot has returned to the negative ground after a brief trip to session tops around 1.0940 following a disappointing ADP report, which showed that the US private sector added ‘just’ 185K jobs during the last month. However, a stellar decade-high ISM Non-manufacturing released later gave strength back to the dollar, and again pushed the pair back to the 1.0850/60 band, where it is now trying to stabilize.
Looking to Thursday’s calendar in the euro area, German Factory Orders will be the sole release in a day where everything will gyrate around the pound and the BoE. Across the pond, Initial Claims are only due.
EUR/USD key levels
As of writing the pair is retreating 0.10% at 1.0869 and a breakdown of 1.0848 (low Aug.5) would open the door to 1.0811 (low Jul.11) and finally 1.0789 (low Apr.24). On the upside, the initial hurdle aligns at 1.0990 (high Aug.4) followed by 1.1080 (high Jul.29) and then 1.1113 (high Jul.31).
EUR/USD swings with US data
Spot has returned to the negative ground after a brief trip to session tops around 1.0940 following a disappointing ADP report, which showed that the US private sector added ‘just’ 185K jobs during the last month. However, a stellar decade-high ISM Non-manufacturing released later gave strength back to the dollar, and again pushed the pair back to the 1.0850/60 band, where it is now trying to stabilize.
Looking to Thursday’s calendar in the euro area, German Factory Orders will be the sole release in a day where everything will gyrate around the pound and the BoE. Across the pond, Initial Claims are only due.
EUR/USD key levels
As of writing the pair is retreating 0.10% at 1.0869 and a breakdown of 1.0848 (low Aug.5) would open the door to 1.0811 (low Jul.11) and finally 1.0789 (low Apr.24). On the upside, the initial hurdle aligns at 1.0990 (high Aug.4) followed by 1.1080 (high Jul.29) and then 1.1113 (high Jul.31).