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21 May 2015
EUR/USD turns negative at 1.1090
FXStreet (Edinburgh) - The single currency is giving away initial gains on Thursday and sending EUR/USD back to sub-1.1100 levels.
EUR/USD focus on EMU data
The neutral tone from the FOMC minutes left the pair within the weekly range on Wednesday, currently hovering over the 1.1100 neighborhood pending cues from today’s events.
Ahead in the session, preliminary prints from manufacturing and services PMIs in Euroland are coming next followed by the ECB Accounts and the speech by President Mario Draghi. Across the pond, the usual weekly report on the US labour market will precede the Philly Fed Survey and Existing Home Sales.
EUR/USD relevant levels
As of writing the pair is down 0.06% at 1.1089 with the next support at 1.1062 (low May 20) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1131 (high May 21) would target 1.1156 (100-d MA) and then 1.1217 (38.2% of 1.1468-1.1062).
EUR/USD focus on EMU data
The neutral tone from the FOMC minutes left the pair within the weekly range on Wednesday, currently hovering over the 1.1100 neighborhood pending cues from today’s events.
Ahead in the session, preliminary prints from manufacturing and services PMIs in Euroland are coming next followed by the ECB Accounts and the speech by President Mario Draghi. Across the pond, the usual weekly report on the US labour market will precede the Philly Fed Survey and Existing Home Sales.
EUR/USD relevant levels
As of writing the pair is down 0.06% at 1.1089 with the next support at 1.1062 (low May 20) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1131 (high May 21) would target 1.1156 (100-d MA) and then 1.1217 (38.2% of 1.1468-1.1062).