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4 May 2015
EUR/USD finds support at 1.1120
FXStreet (Edinburgh) - The European currency remains entrenched in the negative territory on Monday, with EUR/USD now navigating the low-1.1100s.
EUR/USD focus on US releases
The pair is trying to find some consolidation after the deep pullback from overnight peaks in the 1.1220/25 band. A continuation of the USD upside momentum continues to weigh on spot ahead of US Factory Orders due later (2.0% MoM exp.).
Previously, final manufacturing PMIs came in mixed in Euroland, while EMU’s sentiment gauge by the Sentix index missed expectations for the current month.
EUR/USD relevant levels
The pair is down 0.58% at 1.1135 and a drop below 1.1100 (psychological level) would expose 1.1072 (low Apr.30) and finally 1.0959 (low Apr.29). On the upside, the immediate hurdle aligns at 1.1225 (high May 4) ahead of 1.1291 (high May 1) and then 1.1380 (high Feb.26).
EUR/USD focus on US releases
The pair is trying to find some consolidation after the deep pullback from overnight peaks in the 1.1220/25 band. A continuation of the USD upside momentum continues to weigh on spot ahead of US Factory Orders due later (2.0% MoM exp.).
Previously, final manufacturing PMIs came in mixed in Euroland, while EMU’s sentiment gauge by the Sentix index missed expectations for the current month.
EUR/USD relevant levels
The pair is down 0.58% at 1.1135 and a drop below 1.1100 (psychological level) would expose 1.1072 (low Apr.30) and finally 1.0959 (low Apr.29). On the upside, the immediate hurdle aligns at 1.1225 (high May 4) ahead of 1.1291 (high May 1) and then 1.1380 (high Feb.26).