5 Aug 2015
EUR/USD stuck around 1.0860, PMIs eyed
FXStreet (Edinburgh) - The shared currency remains entrenched in the negative ground on Wednesday, taking EUR/USD to the 1.0860 area ahead of Services PMIs in Euroland.
EUR/USD focus on PMIs, US calendar
Spot is trading visible lower on Wednesday, still suffering yesterday’s comments by D.Lockhart, who favoured a Fed’s rate hike as early as September. Lockhart’s remarks prompted sellers to step in and drag the pair from the 1.0990 area to the mid-1.0800s.
Next of relevance in the euro area will be the final prints of the Services PMIs, followed by a more relevant calendar across the pond, with the ADP report, ISM Non-manufacturing and the Trade Balance figures.
EUR/USD key levels
As of writing the pair is retreating 0.12% at 1.0868 and a break below 1.0848 (low Aug.4) would open the door to 1.0811 (low Jul.11) and finally 1.0789 (low Apr.24). On the flip side, the initial up barrier aligns at 1.0990 (high Aug.4) followed by 1.1080 (high Jul.29) and then 1.1113 (high Jul.31).
EUR/USD focus on PMIs, US calendar
Spot is trading visible lower on Wednesday, still suffering yesterday’s comments by D.Lockhart, who favoured a Fed’s rate hike as early as September. Lockhart’s remarks prompted sellers to step in and drag the pair from the 1.0990 area to the mid-1.0800s.
Next of relevance in the euro area will be the final prints of the Services PMIs, followed by a more relevant calendar across the pond, with the ADP report, ISM Non-manufacturing and the Trade Balance figures.
EUR/USD key levels
As of writing the pair is retreating 0.12% at 1.0868 and a break below 1.0848 (low Aug.4) would open the door to 1.0811 (low Jul.11) and finally 1.0789 (low Apr.24). On the flip side, the initial up barrier aligns at 1.0990 (high Aug.4) followed by 1.1080 (high Jul.29) and then 1.1113 (high Jul.31).