3 May 2016
EUR/USD off highs, returns to 1.1530
The single currency is surrendering part of its initial gains, now taking EUR/USD to the area of 1.1535/30.
EUR/USD in 2016 highs
Spot has quickly left behind October 2015 tops just below the 1.1500 handle on Monday, helped by another poor performance of the US docket, where the ISM Manufacturing and Markit’s PMI have both missed consensus for the month of April.
The pair thus continues its march north fuelled by the persistent USD-weakness, with the area of 1.1710/15 (high August 2015) as the next interim target.
On the data front, nothing worth mentioning in Europe, whereas the speech by FOMC’s L.Mester and releases from the US Auto sector are only due across the pond.
EUR/USD levels to watch
The pair is now losing 0.04% at 1.1529 and a break above 1.1542 (2016 high May 3) would target 1.1713 (high Aug.24 2015). On the flip side, the immediate support aligns at 1.1355 (20-day sma) followed by 1.1219 (55-day sma) and then 1.1213 (low Apr.25).
EUR/USD in 2016 highs
Spot has quickly left behind October 2015 tops just below the 1.1500 handle on Monday, helped by another poor performance of the US docket, where the ISM Manufacturing and Markit’s PMI have both missed consensus for the month of April.
The pair thus continues its march north fuelled by the persistent USD-weakness, with the area of 1.1710/15 (high August 2015) as the next interim target.
On the data front, nothing worth mentioning in Europe, whereas the speech by FOMC’s L.Mester and releases from the US Auto sector are only due across the pond.
EUR/USD levels to watch
The pair is now losing 0.04% at 1.1529 and a break above 1.1542 (2016 high May 3) would target 1.1713 (high Aug.24 2015). On the flip side, the immediate support aligns at 1.1355 (20-day sma) followed by 1.1219 (55-day sma) and then 1.1213 (low Apr.25).