4 Feb 2014
EUR/USD hovers around 1.3500
FXStreet (Córdoba) - Despite intraday volatility, the euro trades virtually unchanged versus the dollar, with the release of Eurozone PPI having little impact on the EUR/USD.
As cautious prevails ahead of the ECB meeting on Thursday, the EUR/USD has spent the day in a slim range, capped by 1.3540 on the upside and contained by 1.3490 on the downside, unable to set a fresh direction. The EUR/USD is currently trading at the 1.3515 area, just a few pips below its opening price.
With no first-tier data scheduled for today, the pair could see more consolidation ahead as investors gear up for the ECB and the NFP report.
EUR/USD levels to watch
In terms of technical levels, immediate resistances are seen at 1.3538 (Feb 4 high), 1.3570 (Jan 31 high) and 1.3595/1.3600 (100-day SMA/psychological level). On the downside, supports could be found at 1.3492 (Feb 4 low) and 1.3476 (Feb 3 low).
As cautious prevails ahead of the ECB meeting on Thursday, the EUR/USD has spent the day in a slim range, capped by 1.3540 on the upside and contained by 1.3490 on the downside, unable to set a fresh direction. The EUR/USD is currently trading at the 1.3515 area, just a few pips below its opening price.
With no first-tier data scheduled for today, the pair could see more consolidation ahead as investors gear up for the ECB and the NFP report.
EUR/USD levels to watch
In terms of technical levels, immediate resistances are seen at 1.3538 (Feb 4 high), 1.3570 (Jan 31 high) and 1.3595/1.3600 (100-day SMA/psychological level). On the downside, supports could be found at 1.3492 (Feb 4 low) and 1.3476 (Feb 3 low).