7 Apr 2015
EUR/USD turns negative
FXStreet (Mumbai) - The offered tone on the EUR strengthened at the onset of the European session, taking the EUR/USD pair lower to 1.0917 from the high of 1.0953.
Back below 5-DMA
The pair is back below its 5-DMA located at 1.0937 after an attempt to rise above 1.0950 failed. Moreover, the US dollar made a comeback across the board after withering a minor sell-off. With Greece issue slated to make a payment to IMF on April 9, attention is now likely to shift over to the economic data in the Eurozone.
The services PMI for March are due for release today across the Eurozone, followed by Sentix investor confidence and Eurozone producer price index.
EUR/USD Technical Levels
The immediate resistance is seen at the daily high of 1.0953, above which gains could be extended to 1.10. On the flip side, support is seen at 1.09 and 1.0879 (10-DMA).
Back below 5-DMA
The pair is back below its 5-DMA located at 1.0937 after an attempt to rise above 1.0950 failed. Moreover, the US dollar made a comeback across the board after withering a minor sell-off. With Greece issue slated to make a payment to IMF on April 9, attention is now likely to shift over to the economic data in the Eurozone.
The services PMI for March are due for release today across the Eurozone, followed by Sentix investor confidence and Eurozone producer price index.
EUR/USD Technical Levels
The immediate resistance is seen at the daily high of 1.0953, above which gains could be extended to 1.10. On the flip side, support is seen at 1.09 and 1.0879 (10-DMA).