6 Apr 2015
EUR/USD challenges highs above 1.10
FXStreet (Edinburgh) - The upbeat tone around the euro is picking up pace now, lifting EUR/USD to the area of session highs above 1.1000.
EUR/USD firmer, US data eyed
The euro remains on the right footing at the beginning of the week, extending its upside momentum vs. the greenback as market participants continue to digest the horrible results from the US labour market last Friday.
The pair is looking to sustain a more convincing break above the 1.10 handle, with the immediate resistance around the 1.1050/60 band (last week’s tops and post-FOMC spike). Next of relevance will be the US ISM Non-manufacturing and Markit’s Services PMI followed by the Labor Market Conditions Index.
EUR/USD key levels
At the moment the pair is advancing 0.34% at 1.1016 and a breakout of 1.1019 (high Apr.6) would open the door to 1.1052 (high Mar.26) and finally 1.1062 (high Mar.18). On the other hand, the immediate support lines up at 1.0867 (low Apr.3) followed by 1.0766 (low Apr.2) and then 1.0718 (low Apr.1).
EUR/USD firmer, US data eyed
The euro remains on the right footing at the beginning of the week, extending its upside momentum vs. the greenback as market participants continue to digest the horrible results from the US labour market last Friday.
The pair is looking to sustain a more convincing break above the 1.10 handle, with the immediate resistance around the 1.1050/60 band (last week’s tops and post-FOMC spike). Next of relevance will be the US ISM Non-manufacturing and Markit’s Services PMI followed by the Labor Market Conditions Index.
EUR/USD key levels
At the moment the pair is advancing 0.34% at 1.1016 and a breakout of 1.1019 (high Apr.6) would open the door to 1.1052 (high Mar.26) and finally 1.1062 (high Mar.18). On the other hand, the immediate support lines up at 1.0867 (low Apr.3) followed by 1.0766 (low Apr.2) and then 1.0718 (low Apr.1).