25 Apr 2014
EUR/USD still below 1.3850
FXStreet (Edinburgh) - The EUR/USD is finishing the week on a firmer tone near 1.3850, amidst thin trade, scarce volatility and just a few relevant releases.
EUR/USD focus on EMU data, US Payrolls
Next week will surely be much more interesting than this one. Looking to EMU releases, the preliminary inflation figures for the month of April (Wednesday) will grab all the attention in light of the next ECB meeting; while US Non farm Payrolls are due on Friday, keeping the pair under pressure from the USD-side (203K exp.). In the opinion of Camilla Sutton, Chief FX Strategist at Scotiabank, “the short term technicals are bullish, most studies are failing to deliver strong buy signals but on balance technicals suggest the risk lies to the upside”.
EUR/USD key levels
At the moment the pair is up 0.07% at 1.3841 with the next resistance at 1.3855 (high Apr.23) followed by 1.3865 (high Apr.17) and then 1.3906 (high Apr.11). On the flip side, a breakdown of 1.3817 (daily cloud top) would target 1.3815 (10-d MA) en route to 1.3801 (21-d MA).
EUR/USD focus on EMU data, US Payrolls
Next week will surely be much more interesting than this one. Looking to EMU releases, the preliminary inflation figures for the month of April (Wednesday) will grab all the attention in light of the next ECB meeting; while US Non farm Payrolls are due on Friday, keeping the pair under pressure from the USD-side (203K exp.). In the opinion of Camilla Sutton, Chief FX Strategist at Scotiabank, “the short term technicals are bullish, most studies are failing to deliver strong buy signals but on balance technicals suggest the risk lies to the upside”.
EUR/USD key levels
At the moment the pair is up 0.07% at 1.3841 with the next resistance at 1.3855 (high Apr.23) followed by 1.3865 (high Apr.17) and then 1.3906 (high Apr.11). On the flip side, a breakdown of 1.3817 (daily cloud top) would target 1.3815 (10-d MA) en route to 1.3801 (21-d MA).