1 May 2015
EUR/USD spikes 1.1290 on US data
FXStreet (Edinburgh) - EUR/USD managed to quickly spike to the 1.1290 level following the US data releases on Friday, although it’s returned to 1.1240 afterwards.
EUR/USD within the range
Another set of US releases, and another disappointment, and another chance for the pair to climb further. EUR/USD clinched fresh highs near 1.1290 after the key ISM Manufacturing came in at 51.5 during April, matching March’s print albeit a tad lower than consensus (52.0), and the sentiment gauge tracked by the Reuters/Michigan index stayed unchanged at 95.9, also below estimates at 96.0. Further data showed construction Spending contracting at a monthly pace of 0.6%.
Next on tap will be Total Vehicle Sales and the speech by FOMC Williams.
EUR/USD key levels
At the moment the pair is advancing 0.12% at 1.1237 with the next hurdle at 1.1291 (high May 1) followed by 1.1380 (high Feb.26) and then 1.1389 (high Feb.25). On the downside, a drop below 1.1203 (low May.1) would expose 1.1125 (daily cloud top) and finally 1.1072 (low Apr.30).
EUR/USD within the range
Another set of US releases, and another disappointment, and another chance for the pair to climb further. EUR/USD clinched fresh highs near 1.1290 after the key ISM Manufacturing came in at 51.5 during April, matching March’s print albeit a tad lower than consensus (52.0), and the sentiment gauge tracked by the Reuters/Michigan index stayed unchanged at 95.9, also below estimates at 96.0. Further data showed construction Spending contracting at a monthly pace of 0.6%.
Next on tap will be Total Vehicle Sales and the speech by FOMC Williams.
EUR/USD key levels
At the moment the pair is advancing 0.12% at 1.1237 with the next hurdle at 1.1291 (high May 1) followed by 1.1380 (high Feb.26) and then 1.1389 (high Feb.25). On the downside, a drop below 1.1203 (low May.1) would expose 1.1125 (daily cloud top) and finally 1.1072 (low Apr.30).