6 Apr 2015
EUR/USD: stalls near 1.10 once again, Spanish unemployment drop ignored
FXStreet (Mumbai) - The shared currency failed to strengthen on a hefty drop in the number of unemployed people shown by the data released in Spain today. The EUR/USD pair continues to trade around 1.0970 after having declined from the high of 1.0995 earlier today.
EUR/USD: US data awaited
The pair faced rejection yet another time closer to 1.10 levels today, despite the weaker-than-expected non-farm payrolls data in the US. This may have been due to holiday-thinned volumes. A drop of 60.2K shown by the Spanish unemployment change data for March failed to move the pair.
We could see a rise trading volume during the US session, when the US services PMI would be released. The ISM non-manufacturing figure for March is expected to fall slightly to 56.5 from 56.9 in February.
EUR/USD Technical Levels
The immediate resistance is seen at 1.1022 (50-DMA), above which the pair could test 1.1050 levels. On the flip side, a break below 1.0960 could drive the pair lower to 1.0914 (5-DMA).
EUR/USD: US data awaited
The pair faced rejection yet another time closer to 1.10 levels today, despite the weaker-than-expected non-farm payrolls data in the US. This may have been due to holiday-thinned volumes. A drop of 60.2K shown by the Spanish unemployment change data for March failed to move the pair.
We could see a rise trading volume during the US session, when the US services PMI would be released. The ISM non-manufacturing figure for March is expected to fall slightly to 56.5 from 56.9 in February.
EUR/USD Technical Levels
The immediate resistance is seen at 1.1022 (50-DMA), above which the pair could test 1.1050 levels. On the flip side, a break below 1.0960 could drive the pair lower to 1.0914 (5-DMA).