8 Apr 2015
EUR/USD erases intraday gains
FXStreet (Córdoba) - EUR/USD came under renewed pressure and widened intraday losses during the New York session as the dollar strengthened helped by NY Fed President Dudley comments.
Dudley said he is not taking huge signal from March nonfarm payrolls and a June rate hike is still possible if the economy is strong and unemployment dropping but the 'bar is probably a little bit higher'. However, he said he is ‘reasonably confident’ the Fed will hike rates in 2015.
The dollar was lifted by comments as markets await the release of the March 17-18 FOMC meeting minutes. EUR/USD dropped to the 1.0810 and erased completely intraday gains in a matter of minutes. At time of writing, the pair is trading at 1.0812, virtually unchanged on the day.
EUR/USD technical levels
As for technical levels, EUR/USD could find immediate resistances at 1.0806 (daily low), 1.0785 (21-day SMA) and 1.0750 (Apr 2 low). On the flip side, resistances are seen at 1.0886 (daily high), 1.0908 (100-hour SMA) and 1.0954 (Apr 7 high).
Dudley said he is not taking huge signal from March nonfarm payrolls and a June rate hike is still possible if the economy is strong and unemployment dropping but the 'bar is probably a little bit higher'. However, he said he is ‘reasonably confident’ the Fed will hike rates in 2015.
The dollar was lifted by comments as markets await the release of the March 17-18 FOMC meeting minutes. EUR/USD dropped to the 1.0810 and erased completely intraday gains in a matter of minutes. At time of writing, the pair is trading at 1.0812, virtually unchanged on the day.
EUR/USD technical levels
As for technical levels, EUR/USD could find immediate resistances at 1.0806 (daily low), 1.0785 (21-day SMA) and 1.0750 (Apr 2 low). On the flip side, resistances are seen at 1.0886 (daily high), 1.0908 (100-hour SMA) and 1.0954 (Apr 7 high).