7 May 2015
EUR/USD consolidates around 1.1270
FXStreet (Edinburgh) - EUR/USD is now looking to consolidate the daily drop around the 1.1270 vs. the greenback, as markets enter the last part of the NA session on Thursday.
EUR/USD focus on Payrolls
The pair is navigating its fourth consecutive week so far, although the upside will be put to the test tomorrow, as the critical US Non-farm Payrolls will be released. Prior surveys see the US economy to have added 225K jobs during April, leaving behind March’s miserable print (126K). In the meantime, market participants will gauge the results looking for clues regarding the timing of the next Fed’s rate hike.
Nothing tangible from the Greek front in spite of the usual flow of rumours and counter-rumours from Greek officials, trying to grab media attention, instead, for instance, of submitting the list of structural reforms (which they should have presented weeks ago) in order to be assessed by their EU peers.
EUR/USD levels to watch
The pair is now losing 0.67% at 1.1270 and a breach of 1.1237 (low May 7) would aim for 1.1200 (psychological level) and then 1.1175 (low May 6). On the other hand, the initial hurdle aligns at 1.1393 (high May 7) followed by 1.1450 (high Feb.17) and finally 1.1486 (high Feb.6).
EUR/USD focus on Payrolls
The pair is navigating its fourth consecutive week so far, although the upside will be put to the test tomorrow, as the critical US Non-farm Payrolls will be released. Prior surveys see the US economy to have added 225K jobs during April, leaving behind March’s miserable print (126K). In the meantime, market participants will gauge the results looking for clues regarding the timing of the next Fed’s rate hike.
Nothing tangible from the Greek front in spite of the usual flow of rumours and counter-rumours from Greek officials, trying to grab media attention, instead, for instance, of submitting the list of structural reforms (which they should have presented weeks ago) in order to be assessed by their EU peers.
EUR/USD levels to watch
The pair is now losing 0.67% at 1.1270 and a breach of 1.1237 (low May 7) would aim for 1.1200 (psychological level) and then 1.1175 (low May 6). On the other hand, the initial hurdle aligns at 1.1393 (high May 7) followed by 1.1450 (high Feb.17) and finally 1.1486 (high Feb.6).