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9 Apr 2015
EUR/USD stuck around 1.0740
FXStreet (Edinburgh) - The demand for the shared currency remains subdued during the second half of the week, pushing EUR/USD to session lows around 1.0740/35.
EUR/USD in weekly lows
The pair has retreated uninterruptedly since Monday’s tops around 1.1040/50, proving once again that gains remain limited around those levels. The FOMC minutes on Wednesday showed dissent within the Committee regarding the timing of the rates lift-off, with a June rate hike not ruled out.
Data wise in Euroland, German Industrial Production contracted 0.3% on a year to February while the trade surplus came in at €19.7 billion, missing forecasts for a €20 billion surplus.
EUR/USD levels to consider
The pair is now losing 0.43% at 1.0733 and a breakdown of 1.0713 (low Mar.31) would target 1.0688 (61.8% of 1.0457-1.1062) en route to 1.0650 (low Mar.20). On the upside, the initial hurdle aligns at 1.0788 (hourly high Apr.9) ahead of 1.0834 (10-d MA) and finally 1.0888 (high Apr.8).
EUR/USD in weekly lows
The pair has retreated uninterruptedly since Monday’s tops around 1.1040/50, proving once again that gains remain limited around those levels. The FOMC minutes on Wednesday showed dissent within the Committee regarding the timing of the rates lift-off, with a June rate hike not ruled out.
Data wise in Euroland, German Industrial Production contracted 0.3% on a year to February while the trade surplus came in at €19.7 billion, missing forecasts for a €20 billion surplus.
EUR/USD levels to consider
The pair is now losing 0.43% at 1.0733 and a breakdown of 1.0713 (low Mar.31) would target 1.0688 (61.8% of 1.0457-1.1062) en route to 1.0650 (low Mar.20). On the upside, the initial hurdle aligns at 1.0788 (hourly high Apr.9) ahead of 1.0834 (10-d MA) and finally 1.0888 (high Apr.8).