26 Mar 2014
EUR/USD drifting lower on 1.3820
FXStreet (Guatemala) - EUR/USD is steadily building a drift to the downside after a day of bids that took the pair back to the pivot of yesterday’s business.
EUR/USD has been noted as on hold, “Taking a brief look at overnight markets, EUR/USD is holding at around the 1.382 level, but the lower USD vs EMFX theme over the last day or so has moderated”, explained Gaël Gunubu at Deutsche Bank AG. Meanwhile, markets seem to have discounted the better than expected data on the US session. “I'm not sure this report will tell us anything meaningful about the state of the US economy”, Kit Jukes, Societe Generale. Nevertheless, Durable Goods Orders (Feb) arrived at 2.2% beating consensus of 1.0% and previous -1.3%. More recently, US Markit Services PMI beat forecasts of 54.2 in March and arrived today at 55.5.
EUR/USD Levels
The 20 DMA is 1.3824, the 50 DMA is 1.3710 and the 200 DMA is 1.3499. RSI (14) reads 50.20. Supports are ascending from 1.3720, 1.3749 and spot is 1.3784. Resistances are 1.3800, 1.3813, 1.3830, 1.3848, 1.3881 and 1.3899.
EUR/USD has been noted as on hold, “Taking a brief look at overnight markets, EUR/USD is holding at around the 1.382 level, but the lower USD vs EMFX theme over the last day or so has moderated”, explained Gaël Gunubu at Deutsche Bank AG. Meanwhile, markets seem to have discounted the better than expected data on the US session. “I'm not sure this report will tell us anything meaningful about the state of the US economy”, Kit Jukes, Societe Generale. Nevertheless, Durable Goods Orders (Feb) arrived at 2.2% beating consensus of 1.0% and previous -1.3%. More recently, US Markit Services PMI beat forecasts of 54.2 in March and arrived today at 55.5.
EUR/USD Levels
The 20 DMA is 1.3824, the 50 DMA is 1.3710 and the 200 DMA is 1.3499. RSI (14) reads 50.20. Supports are ascending from 1.3720, 1.3749 and spot is 1.3784. Resistances are 1.3800, 1.3813, 1.3830, 1.3848, 1.3881 and 1.3899.