2 Feb 2015
EUR/USD back to square one, tests 1.1310
FXStreet (Edinburgh) - The common currency has quickly lost its shine on Monday, with EUR/USD now returning to the 1.1315/10 band.
EUR/USD fade the spike to 1.1360
The initial better tone in the riskier assets pushed spot to the mid-1.1300s, although the resurgence of a bid tone around the greenback motivated the current correction lower. In the data front, market participants deemed as innocuous the final prints from the manufacturing PMIs in the euro region, at the same time shifting their focus to the US docket due later, with ISM Manufacturing as the main highlight.
EUR/USD levels to consider
As of writing the pair is advancing 0.20% 1.1323 and a surpass of 1.1355 (10-d MA) would open the door to 1.1364 (high Jan.30) and finally 1.1368 (high Jan.29). On the flip side, the immediate support lines up at 1.1262 (low Jan.29) ahead of 1.1261 (50% of 1.1098-1.1423) and then 1.1200 (psychological level).
EUR/USD fade the spike to 1.1360
The initial better tone in the riskier assets pushed spot to the mid-1.1300s, although the resurgence of a bid tone around the greenback motivated the current correction lower. In the data front, market participants deemed as innocuous the final prints from the manufacturing PMIs in the euro region, at the same time shifting their focus to the US docket due later, with ISM Manufacturing as the main highlight.
EUR/USD levels to consider
As of writing the pair is advancing 0.20% 1.1323 and a surpass of 1.1355 (10-d MA) would open the door to 1.1364 (high Jan.30) and finally 1.1368 (high Jan.29). On the flip side, the immediate support lines up at 1.1262 (low Jan.29) ahead of 1.1261 (50% of 1.1098-1.1423) and then 1.1200 (psychological level).