29 Apr 2015
EUR/USD in red around 1.0970
FXStreet (Edinburgh) - The single currency keeps the upper bound of the weekly range near 1.0970 vs. the dollar, despite EUR/USD is trading in the red territory so far.
EUR/USD focus on FOMC, data
It should be a very interesting day ahead for the pair, as the calendar in both Euroland and the US is more than promising: credit figures, Business Climate, Economic Sentiment and flash German CPI for the month of April will be in the limelight in the euro area, while Q1 GDP Annualized, PCE, Pending Home Sales and the key FOMC meeting will be the main highlights across the pond.
In the meantime, Greece headlines plus USD weakness remained the exclusive drivers behind the pair’s upside to the vicinity of the critical barrier at 1.1000 during the first half of the week, although a dovish tone from the FOMC today and further disappointment in the US docket will surely see that resistance surpassed.
EUR/USD levels to consider
At the moment the pair is losing 0.06% at 1.0973 with the next resistance at 1.0985 (high Apr.29) ahead of 1.1036 (high Apr.6) and finally 1.1062 (high Mar.18). On the downside, a breach of 1.0860 (low Apr.28) would target 1.0819 (low Apr.27) en route to 1.0789 (low Apr.24).
EUR/USD focus on FOMC, data
It should be a very interesting day ahead for the pair, as the calendar in both Euroland and the US is more than promising: credit figures, Business Climate, Economic Sentiment and flash German CPI for the month of April will be in the limelight in the euro area, while Q1 GDP Annualized, PCE, Pending Home Sales and the key FOMC meeting will be the main highlights across the pond.
In the meantime, Greece headlines plus USD weakness remained the exclusive drivers behind the pair’s upside to the vicinity of the critical barrier at 1.1000 during the first half of the week, although a dovish tone from the FOMC today and further disappointment in the US docket will surely see that resistance surpassed.
EUR/USD levels to consider
At the moment the pair is losing 0.06% at 1.0973 with the next resistance at 1.0985 (high Apr.29) ahead of 1.1036 (high Apr.6) and finally 1.1062 (high Mar.18). On the downside, a breach of 1.0860 (low Apr.28) would target 1.0819 (low Apr.27) en route to 1.0789 (low Apr.24).