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2 Apr 2014
EUR/USD supported around 1.3760
FXStreet (Edinburgh) - The EUR’s decline seems to have found support in the 1.3760 area, with the EUR/USD now attempting a bounce to 1.3770.
EUR/USD softer, eyes on ECB
The pair continues to meander around the lower band of the intraday range, falling uninterruptedly after hitting fresh session highs at 1.3820. Scarce volatility is prevailing amongst traders ahead of the key ECB meeting due tomorrow and US Payrolls on Friday. “The ECB's faith in their 'no deflation threat' mantra was restated yesterday as ECB's vice president Constancio said he doesn't expect the euro zone to slip into deflation. "It is important to underline that we see no deflation prospects". Time will tell, and the first opportunity for the ECB to take preventative measures comes tomorrow at their policy meeting and press conference”, suggested Jonathan Pryor, Corporate Treasury Analyst at Investec.
EUR/USD significant levels
At the moment the pair is losing 0.22% at 1.3763 and a breakdown of 1.3755 (low Apr.2) would open the door to 1.3721 (low Mar.31) and finally 1.3719 (55-d MA). On the upside, the initial hurdle lines up at 1.3820 (high Apr.2) followed by 1.3827 (high Mar.26) and then 1.3828 (21-d MA).
EUR/USD softer, eyes on ECB
The pair continues to meander around the lower band of the intraday range, falling uninterruptedly after hitting fresh session highs at 1.3820. Scarce volatility is prevailing amongst traders ahead of the key ECB meeting due tomorrow and US Payrolls on Friday. “The ECB's faith in their 'no deflation threat' mantra was restated yesterday as ECB's vice president Constancio said he doesn't expect the euro zone to slip into deflation. "It is important to underline that we see no deflation prospects". Time will tell, and the first opportunity for the ECB to take preventative measures comes tomorrow at their policy meeting and press conference”, suggested Jonathan Pryor, Corporate Treasury Analyst at Investec.
EUR/USD significant levels
At the moment the pair is losing 0.22% at 1.3763 and a breakdown of 1.3755 (low Apr.2) would open the door to 1.3721 (low Mar.31) and finally 1.3719 (55-d MA). On the upside, the initial hurdle lines up at 1.3820 (high Apr.2) followed by 1.3827 (high Mar.26) and then 1.3828 (21-d MA).