4 Mar 2015
EUR/USD keeps lows around 1.1120
FXStreet (Edinburgh) - EUR/USD remains unmotivated and depressed in the vicinity of 1.1120, retracing the bullish attempt to 1.1130/40.
EUR/USD now looks to the ISM, ADP report
Disappointing results from the Services PMIs in the euro area during February sparked the current leg lower, which found some support in the 1.1120/15 band. The greenback extended its upside momentum today, ahead of the ADP Employment report and the key ISM Non-Manufacturing in the US economy. Market consensus expects the US private sector to have added 220K jobs during February, while the ISM is expected a tad lower at 56.5 vs. 56.7 previous.
EUR/USD levels to consider
As of writing the pair is retreating 0.47% at 1.1122 facing the next support at 1.1115 (low Mar.4) followed by 1.1098 (11-year low Jan.26) and finally 1.1047 (low Sep.8 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).
EUR/USD now looks to the ISM, ADP report
Disappointing results from the Services PMIs in the euro area during February sparked the current leg lower, which found some support in the 1.1120/15 band. The greenback extended its upside momentum today, ahead of the ADP Employment report and the key ISM Non-Manufacturing in the US economy. Market consensus expects the US private sector to have added 220K jobs during February, while the ISM is expected a tad lower at 56.5 vs. 56.7 previous.
EUR/USD levels to consider
As of writing the pair is retreating 0.47% at 1.1122 facing the next support at 1.1115 (low Mar.4) followed by 1.1098 (11-year low Jan.26) and finally 1.1047 (low Sep.8 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).