5 May 2014
EUR/USD eases from highs
FXStreet (Edinburgh) - After an ephemeral bullish attempt to 1.3890, the EUR/USD is now creeping back to the 1.3880/75 region.
EUR/USD weaker after US data
Upbeat US results from the services PMI tracked by Markit and the ISM Non-manufacturing gave the greenback a short-live impulse, although it now seems the buying interest is losing some vigour. Apathetic trade continues to dominate the session on Monday, where lower Chinese HSBC PMI and EMU’s Sentix index passed unnoticed by traders. “We stay neutral on the EUR-USD going into the ECB meeting later this week with the 55-day MA (1.3808) expected to support while 1.3900 and 1.3935 may also cap pending further cues from the ECB and EZ PMIs this week”, observed Emmanuel Ng, FX Strategist at OCBC Bank.
EUR/USD key levels
The pair is now advancing 0.07% at 1.3880 and a breakout of 1.3889 (high May 1) would open the door to 1.3906 (high Apr.11) and then 1.3935 (high Mar.19). On the flipside, the immediate support lines up at 1.3844 (10-d MA) followed by 1.3832 (21-d MA) and finally 1.3812 (low May 2).
EUR/USD weaker after US data
Upbeat US results from the services PMI tracked by Markit and the ISM Non-manufacturing gave the greenback a short-live impulse, although it now seems the buying interest is losing some vigour. Apathetic trade continues to dominate the session on Monday, where lower Chinese HSBC PMI and EMU’s Sentix index passed unnoticed by traders. “We stay neutral on the EUR-USD going into the ECB meeting later this week with the 55-day MA (1.3808) expected to support while 1.3900 and 1.3935 may also cap pending further cues from the ECB and EZ PMIs this week”, observed Emmanuel Ng, FX Strategist at OCBC Bank.
EUR/USD key levels
The pair is now advancing 0.07% at 1.3880 and a breakout of 1.3889 (high May 1) would open the door to 1.3906 (high Apr.11) and then 1.3935 (high Mar.19). On the flipside, the immediate support lines up at 1.3844 (10-d MA) followed by 1.3832 (21-d MA) and finally 1.3812 (low May 2).