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5 May 2016
EUR/USD keeps lows near 1.1430, Fedspeak eyed
Nothing has changed for EUR/USD since early morning, currently looking to consolidate the daily drop around the 1.1430/20 band.
EUR/USD attention to Fedspeak
Spot has accentuated the leg lower from recent tops above the 1.1600 mark posted on Tuesday, breaking below the key area at 1.1460/50, all helped by the re-emergence of the buying interest around the US dollar.
The extent of the ongoing correction lower remains to be seen however, although a continuation of a sideline pattern and/or the inability to re-test 1.1615 in the next sessions could prompt investors to factor in the idea that a top is in place.
Next on tap will be speeches by FOMC’s Bullard, Kaplan, Williams and Lockhart, all ahead of tomorrow’s key Non-farm Payrolls.
EUR/USD levels to watch
The pair is now losing 0.50% at 1.1430 and a break below 1.1359 (20-day sma) would open the door to 1.1226 (55-day sma) and finally 1.1213 (low Apr.25). On the other hand, the initial hurdle lines up at 1.1615 (2016 high May 3) followed by 1.1713 (high Aug.24 2015) and finally 1.2110 (2015 high Jan.2).
EUR/USD attention to Fedspeak
Spot has accentuated the leg lower from recent tops above the 1.1600 mark posted on Tuesday, breaking below the key area at 1.1460/50, all helped by the re-emergence of the buying interest around the US dollar.
The extent of the ongoing correction lower remains to be seen however, although a continuation of a sideline pattern and/or the inability to re-test 1.1615 in the next sessions could prompt investors to factor in the idea that a top is in place.
Next on tap will be speeches by FOMC’s Bullard, Kaplan, Williams and Lockhart, all ahead of tomorrow’s key Non-farm Payrolls.
EUR/USD levels to watch
The pair is now losing 0.50% at 1.1430 and a break below 1.1359 (20-day sma) would open the door to 1.1226 (55-day sma) and finally 1.1213 (low Apr.25). On the other hand, the initial hurdle lines up at 1.1615 (2016 high May 3) followed by 1.1713 (high Aug.24 2015) and finally 1.2110 (2015 high Jan.2).