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4 Mar 2015
EUR/USD sidelined around 1.1160
FXStreet (Edinburgh) - The single currency remains on the back footing against the greenback on Wednesday, with EUR/USD hovering over 1.1165/60 region.
EUR/USD attention to PMIs, US data
The pair is coming down from yesterday’s tops around 1.1220, looking to gain some traction on the release of the flash Services PMIs in Euroland for the last month. The pair seems to be comfortable below the 1.1200 handle, after higher than expected CPI in the US economy last week intensified the selling pressure around the common currency.
Across the pond, the ADP report, ISM Non-Manufacturing and the Fed’s Beige Book will take centre stage.
EUR/USD levels to consider
As of writing the pair is retreating 0.05% at 1.1170 facing the next support at 1.1155 (low Mar.3) followed by 1.1098 (11-year low Jan.26) and finally 1.1047 (low Sep.8 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).
EUR/USD attention to PMIs, US data
The pair is coming down from yesterday’s tops around 1.1220, looking to gain some traction on the release of the flash Services PMIs in Euroland for the last month. The pair seems to be comfortable below the 1.1200 handle, after higher than expected CPI in the US economy last week intensified the selling pressure around the common currency.
Across the pond, the ADP report, ISM Non-Manufacturing and the Fed’s Beige Book will take centre stage.
EUR/USD levels to consider
As of writing the pair is retreating 0.05% at 1.1170 facing the next support at 1.1155 (low Mar.3) followed by 1.1098 (11-year low Jan.26) and finally 1.1047 (low Sep.8 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).