8 Apr 2015
EUR/USD keeps the range on EMU data
FXStreet (Edinburgh) - The single currency remained indifferent following the release in the euro area, with EUR/USD hovering over 1.0860/70.
EUR/USD off highs
The pair managed to climb to the boundaries of 1.0880 earlier on, although the bullish attempt seems to have run out of steam and is now retracing to the area of 1.0860. Data from Euroland showed retail sales contracting 0.2% on a monthly basis during March and expanding 3.0% on a yearly basis while previous data noted Factory Orders in Germany dropped 0.9% MoM in February.
Without any more releases due in the euro area, markets’ attention will turn to the FOMC minutes due in the European evening/night, with consensus expecting the tone slightly biased towards the dovish camp.
EUR/USD key levels
The pair is now advancing 0.41% at 1.0859 with the next up barrier at 1.0909 (100-h MA) ahead of 1.0955 (high Apr.7) and finally 1.1036 (high Apr.6). On the flip side, a breakdown of 1.0803 (low Apr.7) would target 1.0800 (high Apr.1) en route to 1.0789 (21-d MA).
EUR/USD off highs
The pair managed to climb to the boundaries of 1.0880 earlier on, although the bullish attempt seems to have run out of steam and is now retracing to the area of 1.0860. Data from Euroland showed retail sales contracting 0.2% on a monthly basis during March and expanding 3.0% on a yearly basis while previous data noted Factory Orders in Germany dropped 0.9% MoM in February.
Without any more releases due in the euro area, markets’ attention will turn to the FOMC minutes due in the European evening/night, with consensus expecting the tone slightly biased towards the dovish camp.
EUR/USD key levels
The pair is now advancing 0.41% at 1.0859 with the next up barrier at 1.0909 (100-h MA) ahead of 1.0955 (high Apr.7) and finally 1.1036 (high Apr.6). On the flip side, a breakdown of 1.0803 (low Apr.7) would target 1.0800 (high Apr.1) en route to 1.0789 (21-d MA).