8 May 2015
EUR/USD breaches 1.1200 on data
FXStreet (Edinburgh) - The single currency remains entrenched in the negative territory on Friday, with EUR/USD now navigating sub-1.1200 levels.
EUR/USD weaker on German data, UK elections
The pound is stealing the show today following the results in the UK Parliamentary elections, exerting downside pressure on the shared currency via EUR/GBP. The euro also saw its demand trimmed after German trade balance figures came in on the soft side for the month of March, showing the trade surplus shrinking to €19.3 billion from €19.7 billion in February.
Second-tier data in the euro area will show Italian Industrial Output ahead of the US Payrolls, expected at 225K for the last month.
EUR/USD levels to consider
As of writing the pair is losing 0.62% at 1.1197 with the next support at 1.1191 (low May 8) followed by 1.1175 (low May 6) and finally 1.1100 (psychological level). On the flip side, a breakout of 1.1272 (high May 8) would aim for 1.1300 (psychological level) and then 1.1393 (high May 7).
EUR/USD weaker on German data, UK elections
The pound is stealing the show today following the results in the UK Parliamentary elections, exerting downside pressure on the shared currency via EUR/GBP. The euro also saw its demand trimmed after German trade balance figures came in on the soft side for the month of March, showing the trade surplus shrinking to €19.3 billion from €19.7 billion in February.
Second-tier data in the euro area will show Italian Industrial Output ahead of the US Payrolls, expected at 225K for the last month.
EUR/USD levels to consider
As of writing the pair is losing 0.62% at 1.1197 with the next support at 1.1191 (low May 8) followed by 1.1175 (low May 6) and finally 1.1100 (psychological level). On the flip side, a breakout of 1.1272 (high May 8) would aim for 1.1300 (psychological level) and then 1.1393 (high May 7).