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6 May 2015
EUR/USD eases to 1.1230
FXStreet (Edinburgh) - After climbing as high as 1.1260, EUR/USD is now shedding part of the initial gains and is returning to the 1.1235/30 band.
EUR/USD attention to PMIs
Spot managed to revert yesterday’s drop to the 1.1070/65 area and recover both 1.11 and 1.12 handles backed by an increasing selling pressure around the greenback.
Ahead in the session, final April’s Services PMIs in Euroland will precede EMU’s Retail Sales during March, expected to have contracted at a monthly pace of 0.7%. Across the Atlantic, the ADP Employment Change will be in the limelight, with prior surveys pointing to a creation of 200K jobs during the last month.
EUR/USD levels to watch
As of writing the pair is advancing 0.36% at 1.1227 with the next hurdle at 1.1290 (high May 1) ahead of 1.1380 (high Feb.26) and then 1.1389 (high Feb.25). On the flip side, a breakdown of 1.1069 9cloud top) would open the door to 1.1067 (low May 5) and finally 1.0960 (low Apr.29).
EUR/USD attention to PMIs
Spot managed to revert yesterday’s drop to the 1.1070/65 area and recover both 1.11 and 1.12 handles backed by an increasing selling pressure around the greenback.
Ahead in the session, final April’s Services PMIs in Euroland will precede EMU’s Retail Sales during March, expected to have contracted at a monthly pace of 0.7%. Across the Atlantic, the ADP Employment Change will be in the limelight, with prior surveys pointing to a creation of 200K jobs during the last month.
EUR/USD levels to watch
As of writing the pair is advancing 0.36% at 1.1227 with the next hurdle at 1.1290 (high May 1) ahead of 1.1380 (high Feb.26) and then 1.1389 (high Feb.25). On the flip side, a breakdown of 1.1069 9cloud top) would open the door to 1.1067 (low May 5) and finally 1.0960 (low Apr.29).