9 Jun 2014
EUR/USD deflates from highs
FXStreet (Edinburgh) - The single currency is now losing the grip, dragging the EUR/USD back to the 1.3645/40 region after printing highs near 1.3670.
EUR/USD muted on Sentix
Market participants continues to digest Friday’s in-line US Payrolls (217K) along with the recent easing measures announced by the ECB in its June meeting last Thursday. Against a backdrop of thin trade at the beginning of the week, the only release of note in the euro bloc was the Investor Confidence tracked by the Sentix index, coming in below estimates at 8.5 for the present month, although markets largely bypassed it. According to analysts at BBH, “The euro fell about 5 cents from early May through last week. It has begun retrace those losses. The RSI and MACDs are constructive and are consistent with a euro advance back to the $1.3800 area”.
EUR/USD levels to watch
As of writing the pair is flat at 1.3641 with the immediate resistance at 1.3688 (high May 22) ahead of 1.3723 (high May 21) and finally 1.3734 (high May 19). On the downside, a breach of 1.3621 (low Jun.6) would expose 1.3503 (low Jun.5) and then 1.3482 (low Feb.6).
EUR/USD muted on Sentix
Market participants continues to digest Friday’s in-line US Payrolls (217K) along with the recent easing measures announced by the ECB in its June meeting last Thursday. Against a backdrop of thin trade at the beginning of the week, the only release of note in the euro bloc was the Investor Confidence tracked by the Sentix index, coming in below estimates at 8.5 for the present month, although markets largely bypassed it. According to analysts at BBH, “The euro fell about 5 cents from early May through last week. It has begun retrace those losses. The RSI and MACDs are constructive and are consistent with a euro advance back to the $1.3800 area”.
EUR/USD levels to watch
As of writing the pair is flat at 1.3641 with the immediate resistance at 1.3688 (high May 22) ahead of 1.3723 (high May 21) and finally 1.3734 (high May 19). On the downside, a breach of 1.3621 (low Jun.6) would expose 1.3503 (low Jun.5) and then 1.3482 (low Feb.6).