5 Aug 2015
EUR/USD back to the 1.0900 area
FXStreet (Edinburgh) - After climbing as high as 1.0940, EUR/USD has now faded the bullish attempt and is now hovering over the 1.0900 neighbourhood.
EUR/USD firmer on poor US data
Poor results from the US ADP report during July (185K act.) plus a wider than expected trade deficit in the same period have fuelled the pair’s spike to session tops near 1.0940, although the up move lacked conviction and vanished soon afterwards.
Next of relevance in the pair will be the US Services sector, with the ISM Non-manufacturing and Markit’s PMI in the pipeline.
EUR/USD key levels
As of writing the pair is advancing 0.13% at 1.0895 with the next resistance at 1.0990 (high Aug.4) followed by 1.1080 (high Jul.29) and then 1.1113 (high Jul.31). On the flip side, 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).
EUR/USD firmer on poor US data
Poor results from the US ADP report during July (185K act.) plus a wider than expected trade deficit in the same period have fuelled the pair’s spike to session tops near 1.0940, although the up move lacked conviction and vanished soon afterwards.
Next of relevance in the pair will be the US Services sector, with the ISM Non-manufacturing and Markit’s PMI in the pipeline.
EUR/USD key levels
As of writing the pair is advancing 0.13% at 1.0895 with the next resistance at 1.0990 (high Aug.4) followed by 1.1080 (high Jul.29) and then 1.1113 (high Jul.31). On the flip side, 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).