7 Apr 2015
EUR/USD eases further to 1.0840
FXStreet (Edinburgh) - The selling pressure keeps gathering traction around the euro on Tuesday, relegating EUR/USD to visit the proximity of 1.0840.
EUR/USD focus on FOMC
The pair is extending its leg lower from recent peaks near 1.1040 following the poor prints from March Payrolls in the US economy (126K act.). The daily decline picked up pace despite a better print from the Sentix index and mostly positive readings from Markit’s Services PMI in Euroland during March.
The focus on Wednesday will be almost exclusively on the FOMC minutes from the March 18th meeting, as only second-tier data releases in the euro region are due. Prior surveys expect the tone from the minutes to be slightly tilted towards the dovish side, in line with the tone from last meeting.
EUR/USD key levels
The pair is now retreating 0.66% at 1.0850 with the immediate support at 1.0834 (low Apr.7) followed by 1.0784 (21-d MA) and then 1.0766 (low Apr.2). On the flip side, a break above 1.0956 (high Apr.7) would open the door to 1.1036 (high Apr.6) and finally 1.1052 (high Mar.26).
EUR/USD focus on FOMC
The pair is extending its leg lower from recent peaks near 1.1040 following the poor prints from March Payrolls in the US economy (126K act.). The daily decline picked up pace despite a better print from the Sentix index and mostly positive readings from Markit’s Services PMI in Euroland during March.
The focus on Wednesday will be almost exclusively on the FOMC minutes from the March 18th meeting, as only second-tier data releases in the euro region are due. Prior surveys expect the tone from the minutes to be slightly tilted towards the dovish side, in line with the tone from last meeting.
EUR/USD key levels
The pair is now retreating 0.66% at 1.0850 with the immediate support at 1.0834 (low Apr.7) followed by 1.0784 (21-d MA) and then 1.0766 (low Apr.2). On the flip side, a break above 1.0956 (high Apr.7) would open the door to 1.1036 (high Apr.6) and finally 1.1052 (high Mar.26).