1 May 2014
EUR/USD consolidates gains near 1.3900
FXStreet (Córdoba) - The EUR/USD is consolidating gains at daily highs after the latest bullish leg stalled just a few pips shy of the 1.3900 mark.
The EUR/USD gathered pace during the European session, with no clear catalyst and amid low volume, and reached a fresh 3-week high of 1.3888 before settling in a range just below. At time of writing, the EUR/USD is trading at the 1.3885 zone, recording a 0.14% gain on the day.
In the macroeconomic domain, while the Eurozone calendar is empty for the rest of the session due to the Labor Day. the US will release a bunch of indicators including initial jobless claims, personal income/spending and the ISM manufacturing PMI. Tomorrow, the US Government will release the nonfarm payrolls report which help the pair to determine a broader direction although cautiousness could linger until next week’s ECB policy meeting.
EUR/USD technical levels
In terms of technical levels, if the EUR/USD clears the 1.3890 area, next resistances are seen at 1.3904 (Apr 11 high) and 1.3933 (Mar 19 high). On the flip side, supports could now be found at 1.3862 (May 1 low), 1.3808 (50-day SMA) and 1.3777 (Apr 30 low).
The EUR/USD gathered pace during the European session, with no clear catalyst and amid low volume, and reached a fresh 3-week high of 1.3888 before settling in a range just below. At time of writing, the EUR/USD is trading at the 1.3885 zone, recording a 0.14% gain on the day.
In the macroeconomic domain, while the Eurozone calendar is empty for the rest of the session due to the Labor Day. the US will release a bunch of indicators including initial jobless claims, personal income/spending and the ISM manufacturing PMI. Tomorrow, the US Government will release the nonfarm payrolls report which help the pair to determine a broader direction although cautiousness could linger until next week’s ECB policy meeting.
EUR/USD technical levels
In terms of technical levels, if the EUR/USD clears the 1.3890 area, next resistances are seen at 1.3904 (Apr 11 high) and 1.3933 (Mar 19 high). On the flip side, supports could now be found at 1.3862 (May 1 low), 1.3808 (50-day SMA) and 1.3777 (Apr 30 low).