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4 May 2016
EUR/USD fades the spike to 1.1530
EUR/USD has rapidly returned to the 1.1500 neighbourhood after further US data have come in on the strong side.
EUR/USD around 1.15 ahead of ISM, EIA
Spot failed to extend the post-ADP rebound beyond 1.1530 after advanced results from US Non-farm Productivity and Unit Labor Costs have surprised investors to the upside during the first quarter.
The bid tone in the greenback remains well and sound albeit off earlier tops ahead of the more relevant ISM Non-manufacturing and Factory Orders, all due later.
EUR/USD levels to watch
The pair is now losing 0.03% at 1.1493 and a break below 1.1355 (20-day sma) would aim for 1.1219 (55-day sma) and then 1.1213 (low Apr.25). On the other hand, the initial hurdle lines up at 1.1615 (2016 high May 3) followed by 1.1713 (high Aug.24 2015) and finally 1.2110 (2015 high Jan.2).
EUR/USD around 1.15 ahead of ISM, EIA
Spot failed to extend the post-ADP rebound beyond 1.1530 after advanced results from US Non-farm Productivity and Unit Labor Costs have surprised investors to the upside during the first quarter.
The bid tone in the greenback remains well and sound albeit off earlier tops ahead of the more relevant ISM Non-manufacturing and Factory Orders, all due later.
EUR/USD levels to watch
The pair is now losing 0.03% at 1.1493 and a break below 1.1355 (20-day sma) would aim for 1.1219 (55-day sma) and then 1.1213 (low Apr.25). On the other hand, the initial hurdle lines up at 1.1615 (2016 high May 3) followed by 1.1713 (high Aug.24 2015) and finally 1.2110 (2015 high Jan.2).