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21 Apr 2014
EUR/USD eases from highs
FXStreet (Edinburgh) - The shared currency is now looking to stabilize in the 1.3820 area, with the EUR/USD coming down from session peaks just above 1.3830.
EUR/USD focus on PMIs
Apart from today’s anaemic trading, the week ahead looks quite promising for EUR traders, as EMU’s Consumer Confidence is due tomorrow ahead of the always-relevant manufacturing/services PMI prints and ECB’s Draghi’s speech on Thursday. Spot is showing its particular resilience above the 1.3800 handle at the beginning of the week, looking to stabilize after recent highs beyond 1.3900 the figure. “The move above 1.3850 late last week was short-lived as EUR dropped quickly from the high. While the undertone appears to be negative for today, any down-move will likely struggle to move below the support at 1.3780. Strong resistant is at 1.3865”, commented Quek Ser Leang, Market Strategist at UOB Group.
EUR/USD levels to consider
At the moment the pair is up 0.10% at 1.3824 with the next resistance at 1.3906 (high Apr.11) followed by 1.3935 (high Mar.19) and then 1.3967 (2014 high Mar.13). On the downside, a break below 1.3814 (low Apr.17) would target 1.3807 (low Apr.16) en route to 1.3790 (low Apr.15).
EUR/USD focus on PMIs
Apart from today’s anaemic trading, the week ahead looks quite promising for EUR traders, as EMU’s Consumer Confidence is due tomorrow ahead of the always-relevant manufacturing/services PMI prints and ECB’s Draghi’s speech on Thursday. Spot is showing its particular resilience above the 1.3800 handle at the beginning of the week, looking to stabilize after recent highs beyond 1.3900 the figure. “The move above 1.3850 late last week was short-lived as EUR dropped quickly from the high. While the undertone appears to be negative for today, any down-move will likely struggle to move below the support at 1.3780. Strong resistant is at 1.3865”, commented Quek Ser Leang, Market Strategist at UOB Group.
EUR/USD levels to consider
At the moment the pair is up 0.10% at 1.3824 with the next resistance at 1.3906 (high Apr.11) followed by 1.3935 (high Mar.19) and then 1.3967 (2014 high Mar.13). On the downside, a break below 1.3814 (low Apr.17) would target 1.3807 (low Apr.16) en route to 1.3790 (low Apr.15).